Bitcoin and cryptocurrency pessimist, Peter Schiff has lamented on how Bitcoiners are hiding under the decision made by Warren Buffet to buy Barrick Gold as a means of dispelling the statement earlier made by the successful entrepreneur about Bitcoin.
The CEO of Euro Pacific Fund, Schiff, a gold maximalist who keeps on talking down the future of cryptocurrency especially Bitcoin, says BTC price “pumpers are exploiting Buffett’s decision to buy Barrick Gold,” but the entrepreneur will never buy Bitcoin.
Warren Buffett’s Berkshire Hathaway accepted to have a taste of the gold market by investing in Barrick Gold Corp, bringing the successful entrepreneur’s years of doubt about gold to a halt.
Buffett’s firm acquired 20.9 million Barrick’s shares, a filing on Friday has shown. Buffett had warned people against investing in gold owing to what observers called myopic views of his.
The entrepreneur’s change of view caused Barrick’s shares to soar by 7% as of yesterday. Although Buffett has been condemning gold in the past, public information confirmed that he acquired 129.7 million ounces of silver in 1997 for less than $6/ounce and later sold it.
Bitcoin holders are now basking in euphoria due to Buffett’s decision about gold. They say there is a high possibility the businessman has a new look at Bitcoin in the nearest future just like he has done for gold.
While this cannot be easily disproved, Peter Schiff has said Warren Buffett will not buy Bitcoin for any reason.
According to him, there is no indication the enterpriser will change his mind on BTC any time soon for the fact that he called Bitcoin a “rat poison squared” but said gold is a “non-productive asset.”
Schiff said the statements are indications the entrepreneur won’t buy Bitcoin for anything.
Although Schiff’s statement does not have any basis for his opinion. Remember that the CEO of BitTorrent and founder of TRON blockchain, Justin Sun, paid a whopping sum just to have dinner with Warren Buffett and get the man convinced of the value and benefit of Bitcoin and the entire cryptocurrency industry.
To achieve his aim, young crypto investor Justin Sun gave Warren Buffet a Samsung galaxy tab loaded with huge Bitcoin.
Justin Sun with his other crypto experts enlightened Buffet about Bitcoin during the dinner, however, to the world’s dismay, the successful entrepreneur handed over the Samsung tab to a Glide Foundation.
Recollect that Justin Sun, in a tweet, claimed he won the launch with a bid of $4,567,888 in charity to the Glide Foundation, but he did not achieve the aim of getting Buffet convinced about cryptocurrency.