Bitcoin basher Peter Schiff has been quietly holding some of the biggest cryptocurrency. Schiff, who is a gold bug, has been incessantly cranky on crypto and recently characterized bitcoin investors as “dumb.” The shoe is on the other foot now, as it turns out the Shiff, who is the CEO of Euro Pacific Capital, received roughly $100 worth of bitcoin as a gift and has been holding it ever since.
Morgan Creek Digital’s Anthony Pompliano brought it up on Twitter, and Schiff didn’t deny it, deciding instead to provide more details. This inspired Pompliano to offer to send the crypto skeptic more bitcoin. After one failed attempt, Schiff found his BTC wallet address and tweeted it.
He has since racked up some $500 worth of bitcoin, all before the stock market even opened.
Meanwhile, his precious commodity gold has been almost as volatile as bitcoin. The gold price rose above the psychologically important 1,400 level at the beginning of the week only to fall back below it. Gold just lost more of its luster.