Financier Peter Schiff tweets crypto skepticism

						Array
(
    [conclusion] => Array
        (
            [0] => 
        )

    [post_sponsor_aff_link] => Array
        (
            [0] => 
        )

    [casino_url] => Array
        (
            [0] => 
        )

    [casino_street_address] => Array
        (
            [0] => 
        )

    [casino_post_code] => Array
        (
            [0] => 
        )

    [year_founded] => Array
        (
            [0] => 
        )

    [withdrawal_limit] => Array
        (
            [0] => 
        )

    [reviewrating] => Array
        (
            [0] => 
        )

    [bestrating] => Array
        (
            [0] => 
        )

    [cgn_score] => Array
        (
            [0] => 
        )

    [casino_key_feature_1] => Array
        (
            [0] => 
        )

    [casino_key_feature_2] => Array
        (
            [0] => 
        )

    [casino_key_feature_3] => Array
        (
            [0] => 
        )

    [bonus_text_top] => Array
        (
            [0] => 
        )

    [bonus_text_bottom] => Array
        (
            [0] => 
        )

    [casino_review_reference] => Array
        (
            [0] => 
        )

    [_wp_page_template] => Array
        (
            [0] => default
        )

    [_thumbnail_id] => Array
        (
            [0] => 14549
        )

    [ppma_authors_name] => Array
        (
            [0] => Alex
        )

)

Last Update: September 21, 2022

2 mins read

Euro Pacific Capital CEO Peter Schiff has questioned how anyone can consider Bitcoin to be money and likened investment in the asset to gambling.

In a tweet he took aim at the current price fluctuations in Bitcoin and the crypto market in general, following tweets by Tesla CEO Elon Musk that has sent the price of Bitcoin down to $44,295, its lowest this week.

“If a single @elonmusk tweet can have so much influence over the price of #Bitcoin how can anyone seriously consider it to be money? How can Bitcoin be a safe-haven asset if a one-word tweet puts it at risk? It should be clear by now that buying Bitcoin is gambling, not investing”, Schiff tweeted, tagging Musk.

Bitcoin has recovered to $44,900 at the time of reporting but Schiff’s skepticism remains unchallenged.

Musk had a belated epiphany about the environmental cost of Bitcoin and said that his companies and him would pursue eco-friendlier cryptocurrencies in future.

However, Schiff went further in describing currencies based on blockchain technology as gambling, and not investment or real money.

Many Twitter users decided to pitch into the discussion with some arguing that the current price drop was a result of currency self-correction and had hardly anything to do with Musk’s announcement.

However, previous endorsement by Musk has seen to positively effect crypto markets, and perhaps none more openly so than the controversial Dogecoin.

Tesla accepted a payment in Dogecoin just days ago to send a lunar payload mission. In the meantime, you can use your preferred cryptocurrency to place wagers at dedicated websites such as Bitcasino, 1xBit and FortuneJack.

Looking for your next crypto casino? Check out: Mega Dice or FortuneJack

Written by Barney

Co-founder

Barney is co-founder of CryptoGamblingNews.com. When not at work he can usually be found behind a Nikon. He's won numerous international competitions for his photography and volunteers as a content creator for aid organisations in Africa.
Best Casinos to play with…
Bitcoin
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
5
PLAY NOW
1
PLAY NOW
2
PLAY NOW
3
PLAY NOW
4
PLAY NOW
The Ledger: Barrichello joins SoftSwiss and Do Kwon seeks extradition to South Korea
7-DAY DAPP UPDATE: MetaWin's exit underscores volatility in the top ten

Similar News

crypto 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 4513
            [name] => crypto
            [slug] => crypto
            [term_group] => 0
            [term_taxonomy_id] => 4513
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2721
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 5056
            [name] => scam
            [slug] => scam
            [term_group] => 0
            [term_taxonomy_id] => 5056
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 42
            [filter] => raw
        )

)

Vitalik Buterin sounds the alarm over ZKasino

26/04/2024|09:56

ZKasino, a cryptocurrency online casino, has been flagged by another prominent blockchain and crypto casino guru, Vitalik Buterin, who warned...
Bitcoin 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 138
            [name] => Bitcoin
            [slug] => bitcoin
            [term_group] => 0
            [term_taxonomy_id] => 138
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 162
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 2745
            [name] => softswiss
            [slug] => softswiss
            [term_group] => 0
            [term_taxonomy_id] => 2745
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 23
            [filter] => raw
        )

)

SOFTSWISS talks about Bitcoin Halving and the impact on...

26/04/2024|09:31

In a detailed LinkedIn post, SOFTSWISS, a tech provider for the gambling industry, and an early adopter of cryptocurrencies, has...
crypto 
								Array
(
    [0] => WP_Term Object
        (
            [term_id] => 4513
            [name] => crypto
            [slug] => crypto
            [term_group] => 0
            [term_taxonomy_id] => 4513
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 2721
            [filter] => raw
        )

    [1] => WP_Term Object
        (
            [term_id] => 3357
            [name] => gambling
            [slug] => gambling
            [term_group] => 0
            [term_taxonomy_id] => 3357
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 753
            [filter] => raw
        )

    [2] => WP_Term Object
        (
            [term_id] => 8771
            [name] => presale
            [slug] => presale
            [term_group] => 0
            [term_taxonomy_id] => 8771
            [taxonomy] => post_tag
            [description] => 
            [parent] => 0
            [count] => 5
            [filter] => raw
        )

)

Mega Dice $DICE token presale exceeds $500,000

26/04/2024|08:16

Mega Dice Casino's latest venture into the crypto market, the $DICE token, has exceeded expectations by amassing over $500,000 in...