Tesla CEO Elon Musk responded to Peter Schiff, who once again underestimated Bitcoin. The richest man on the planet, Tesla and CEO of SpaceX, Elon Musk responded to Peter Schiff’s latest rhetoric against Bitcoin. Schiff may be secretly holding Bitcoin, according to Elon Musk.

 

 

Peter Schiff criticizes Bitcoin again

In a recent tweet, Elon Musk described Bitcoin as a less stupid form of liquidity than cash, adding that “only a fool will look elsewhere” in the current economic situation where the dollar is depreciating thanks to the US Fed Reserve’s continuous quantitative easing programs.

This is how Musk announced the $ 1.5 billion Bitcoin investment Tesla recently announced.

But vocal Bitcoin critic Peter Schiff responded to this and concluded that Elon Musk believed both Bitcoin and fiat were garbage.

Tesla CEO responded by stating that he could only pretend to hate Bitcoin and that Schiff could actually “own cryptocurrency” instead of gold.

This assumption of Musk may be partly due to Schiff’s frequent tweet about Bitcoin for someone who hates Bitcoin, as the crypto community has noticed before. There are more anti-Bitcoin tweets from Schiff than Nouriel Roubini or other Bitcoin critics.

Peter Schiff explains how he sees the difference between fiat and bitcoin
Peter Schiff, CEO of Euro Pacific Capital, also explained how he saw the difference between fiat currencies and Bitcoin.

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According to him, fiat is widely used because governments want it to be taxed. Also, paper money is a “legal tender, a clearing tool, a unit of account”.

As for Bitcoin, “it’s just a digital token that people collect and trade.” using the expression.

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