Founder of Euro Pacific Capital International and Chairman SchiffGold, Peter Schiff, has announced that the result of his July 14 twitter poll where he had asked Bitcoin holder how long they would be willing to hold on to the pioneer crypto token if it continues to trade below $10K before selling it off, is out.
Schiff’s poll attracted a response from about 28,168 BTC enthusiasts out of which 57.5% said they would take their Bitcoin holdings to the grave rather than sell it if it continues to trade at four figures or less. The conclusion of the poll made Schiff ask what the investors stand to gain from not selling out their Bitcoin.
As a response to investors who said they would hold on to their BTC hoping and never lose faith even if BTC price never goes up or keeps declining for years, Schiff said “hope” is not a good strategy.
Peter Schiff’s another attempt to discredit Bitcoin falls flat
The survey result is believed to be contrary to what Schiff was expecting as he has been constantly lambasting Bitcoin, even though he owns a small portion of the noble coin and became dispirited when he lost his wallet password which he did everything possible to regain.
Schiff’s poll offered four options which include one year, ten years and until the investor dies, out of which “I am taking it to my grave” pulled the highest number of votes, which is a shred of evidence that the pool result was contrary to what he was expecting.
Majority of respondents of the previous poll voted that both BTC/USD and XAU/USD would continue gaining and that XAU/USD would soon hit nine-year highs of $1,800.
Gold Appeal Fades for Bitcoiners
Twitter polls are often regarded as unreliable due to their lack of organization and openness to unfairness; this is because the result of the poll might have been a way of passing a message across to Schiff.
Also, Schiff’s motives are not beyond speculations as he may be using his ragging Bitcoin versus Gold battle to drive footfall for his company, SchiffGold, from the Bitcoin investors seeking safe-haven assets to invest in, observers have claimed.