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Peter Schiff: Bitcoin price will never reach $ 50,000

Well-known gold advocate and cryptocurrency skeptic Peter Schiff said that the price of bitcoin will never reach $ 50,000.

In a debate on social networks, Schiff, who is well known for his negative attitude to bitcoin, said that in the future the price of gold will definitely reach the level of $ 5,000.

Schiff started a discussion with CNBC host Joe Kernen, who recently interviewed Bitcoin supporter Anthony Pompliano.

“Before the financial crisis of 2008, when I was still invited to CNBC, Joe was doubtful about my advice to buy gold. Joe was wrong at the time when he did not believe in the rise in the price of gold and he was wrong right when he is optimistic about bitcoin, ”he said.

Kernen reminded Schiff of his $ 5,000 gold price forecast, which had not yet come true. Co-founder of Fundstrat Global Advisors and another regular contributor to the CNBC show, Tom Lee only grinned sarcastically.

“It's hysterical,” Schiff said.

In the end, Schiff opened up and said that the price of the BTC / USD pair will not be able to reach the levels predicted by Lee.

“My forecast for gold turned out to be much closer than your forecast for bitcoin. At least in the end, gold will reach $ 5,000, and Bitcoin will never be worth $ 50,000, ”he said.


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