‘I Guess I’ll Have to Hodl It’ — Peter Schiff Admits Having Bitcoin

Veteran gold bug and bitcoin (BTC) skeptic, Peter Schiff, has taken delivery of $1,350 worth the cryptocurrency after the industry sent him donations on July 4.

Schiff, who is well known for warning investors not to trust bitcoin as replacement for gold, triggered the goodwill gestures after becoming the topic of a Twitter debate with Morgan Creek Digital co-founder, Anthony Pompliano.

Pompliano (also known as Pomp), highlighted the fact that Schiff in fact does own some BTC despite his negative comments. 

Schiff responded that it was a token amount given as a gift – just $100 – after which Pompliano requested his BTC address in order to double it. 

Others subsequently followed suit. At press time Friday, Schiff’s wallet contained at balance of $1,350 (0.124 BTC) after 52 transactions. 

The SchiffGold CEO thanked Pompliano and others when his balance still totalled just $130.

“I guess I’ll have to hodl it and go down with the ship,” he said.

Those comments ran in stark contrast to his infamous recent exchanges with bitcoiners and an appearance on a live debate with ‘The Bitcoin Standard’ author, Saifedean Ammous. 

“It doesn’t matter how high the price of Bitcoin rises unless you sell. Every buyer must eventually sell to realize any benefit from the rise,” he wrote about bitcoin’s current bull run last week.

Signs Schiff is in fact not entirely anti-bitcoin, meanwhile, have been evident for some time. Schiff Gold, for example, even offers it as a payment method.

10  Comments Add a comment…

  • ‘I Guess I’ll Have to Hodl It’ — Peter Schiff Admits Having Bitcoin Scott Witman  

    Does Peter mean except for SPENDING it, once it reaches 100,000 per coin, at tiny companies such as AT&T, Whole Foods, Amazon, California Car Dealerships, Crate & Barrel, Nordstrom, Rakuten, or getting Bitcoin from 5,000 Bitcoin ATMs worldwide (about to become millions according to a new deal announced). Other than that I guess he’s right… AT&T and Amazon were wrong… nobody will spend bitcoin! I’m sure Amazon was just being foolish and impulsive. They usually are foolish and unsuccessful.

    Reply

  • ‘I Guess I’ll Have to Hodl It’ — Peter Schiff Admits Having Bitcoin Shie Besa  

    true

    Reply

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  • ‘I Guess I’ll Have to Hodl It’ — Peter Schiff Admits Having Bitcoin Erich Ristau  

    “It doesn’t matter how high the price of Bitcoin rises unless you sell. Every buyer must eventually sell to realize any benefit from the rise,” he wrote about bitcoin’s current bull run last week.” (The same can be said with Gold, Silver, stocks, bonds, etc. not sure what his point is? )

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    • NP Erich Ristau  

      The point is most advocates are pointing to BTC as a “currency” when the most it can be is an investment. Everything is still priced in USD. When is bread and commodities going to trade in BTC?

      In the Eastern world, you can in fact buy things directly with gold. In India, marriage gifts and are other valuable tokens are done with Gold. They don’t want cash! When the Dong crashed in Vietnam, people used gold directly. Like literally gold itself for large transactions given that USD was government controlled and hard to get (with only small amounts of cash available in the black market)

       

      Coming back to BTC, every exchange has your info. Localbitcoins in the past used to be the way to avoid KYC but that’s no more. It’s less private the cash without going through many steps like BTC -> mixer -> IDEX -> ETH -> localethereum -> gift card or cash

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      • pzi Erich Ristau  

        It’s easy to get it shuffled to anonymity, and it’s floating value is not tied to other political money assets. This takes decades to be clear, and the more people realize, the more demand there will be to hedge into this independent resource.

         

        It’s much pointless to discuss the currency part at this time.

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  • Masao Akimoto  

    No choice but to HODL it mah man

    Reply

  • ‘I Guess I’ll Have to Hodl It’ — Peter Schiff Admits Having Bitcoin JAMES HOWARTH  

    You send him a couple of bucks of bitcoin and think his holding of it is proof of hypocrisy??? Its not worth his time to sell it. Give me bitcoin and if it is substantial I would sell it same as Peter would.

    Reply

  • ‘I Guess I’ll Have to Hodl It’ — Peter Schiff Admits Having Bitcoin Brian C  

    Clickbait title. Boooooo!

    Reply

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