Peter Schiff Denies Companies Selling Gold for Bitcoin

bug and perpetual opponent denies that companies are gold in order to buy more BTC.

In a tweet published December 11, Schiff attacked reports of public companies offloading physical gold in order to buy more digital assets. He called the report a “gimmick” of bitcoin marketing and said the few companies buying bitcoin were using assets other than gold.

Earlier in the month, Schiff attacked Grayscale Investments for fueling the “bitcoin bubble” through its BTC Trust fund. The gold bug also criticized CNBC’s coverage of crypto-assets, accusing the outlet of running “non-stop ads” pushing bitcoin on investors and only featuring pro-bitcoin guests.

In a tweet published December 13, Schiff took aim at MicroStrategy’s founder Michael Saylor for alluding to the purchase of $650 million in additional bitcoin.

According to Schiff, Saylor’s announcement will drive the price of BTC higher prematurely, forcing shareholders to pay the price difference.

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