Ardent Bitcoin critic Peter Schiff who in November claimed that Bitcoin would imminently fall to $1,000 when the cryptocurrency was trading around $7,800 has opened up that he has some Bitcoin, however, the sad news is that Schiff has now lost all his Bitcoin.
Gold proponent Schiff made the revelation on Twitter today, January 19, saying “I just lost all the Bitcoin I have ever owned.”
Just few days back, Peter lashed Bitcoin over the 4% gained by the crypto asset, claiming that BTC’s high volatility has a great tendency of bringing the value down.
The CEO of Euro Pacific Capital said the password he used to access his crypto wallet no longer works after the wallet got corrupted, hence all BTC he ever owned is gone.
Schiff stressed further, lashing Bitcoin has usual. He said all Bitcoin he has ever saved no longer has any market value.
The American libertarian and stockbroker averred that he had always known that owning Bitcoin was a bad idea.
“I just lost all the Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad!” Schiff said.
Peter captioned the image of the response he gets every time he tries to access his Bitcoin via the wallet.
In the response, it was stated that there was an error decrypting the wallet, and it would be best to forget the wallet and start over.
I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad! pic.twitter.com/6SJvDJOZU6
— Peter Schiff (@PeterSchiff) January 19, 2020
Many who commented upbraided Schiff for his inexperience. When reproached with the allegation of forgetting his password, the American economist reechoed that he did not lose his password, but the wallet only stopped working.
Anthony Pompliano, co-founder of Morgan Creek Digital offered to help Peter recover the lost Bitcoin, claiming wallet execute commands that humans give, and can’t forget anything.
In response, Peter said Eric Voorhees, CEO at ShapeShift helped him set up the wallet. Upon reporting the problem to him, Eric believes there’s nothing that can be done to solve the problem.
Peter’s Statement, Ploy to Gain Followers
Meanwhile, the host of UntoldStories and founder BitInstant, Charlie Shrem see Peter’s statement as a ploy to gain relevance and followers considering that the gold lover is up till now considered an enemy of everything Bitcoin.
Shrem said, “To the thousands of people retweeting Peter Schiff “forgetting his Bitcoin password”, do you realize its a ploy for him to stay relevant and gain followers?”
Also, Nouriel Roubini popularly called ‘Dr. Doom’, condemn Bitcoin and those who associate with the digital currencies and its offshoot.
However, unlike Peter Schif, Nouriel has for some times not been condemning Bitcoin. This does not mean he has repented from its old ways.
Bitcoin is the Worst Performing Asset this Decade – Peter Schiff
Earlier at the start of the year when Bitcoin was yet to resume on the upside trend, Schiff said he was aware that Bitcoin is the best performing asset last decade. However, he claimed the leading crypto assets is now the worst performing asset in this new decade.
Peter said aside from Bitcoin, all asset classes are on the rise.
