"That is hysterical"
In a social media debate on August 20, Schiff, identified for his aversion to Bitcoin, stated gold would attain no less than $ 5,000 sooner or later.
Schiff debated with Joe Kernen, the CNBC host who lately advocated and interviewed Bitcoin regular Schiff troll Anthony & # 39; Pump & # 39; Pompliano.
“Earlier than the 2008 monetary disaster, after I was invited to CNBC, Joe was important about my recommendation to purchase gold. Joe was improper then to be bearish on gold, and he’s now improper to be bullish on Bitcoin! & # 39; wrote Schiff.
Kernen then reminded Schiff of his $ 5,000 gold prediction, which has but to come back true. Tom Lee, co-founder of Fundstrat World Advisors and one other common CNBC, agreed – describing the golden prediction as "hysterical."
“Gold will ultimately hit $ 5K. Bitcoin won’t ever hit 50Okay "
This inspired the already said Schiff, who then said that BTC / USD wouldn’t attain the degrees predicted by Lee.
“My gold prediction got here a lot nearer than your Bitcoin prediction. Plus no less than gold will ultimately hit 5k. Bitcoin won’t ever hit 50okay, & he wrote.
Twitter responses pointed to the relative irony of Schiff & # 39; s bearishness, provided that he was each owns Bitcoin itself and accepts it for funds by means of its gold firm.