The very famous while bearish on cryptos – ‘gold bug’ Peter Schiff is not so much of a bitcoin-lover. For some time now he has commented on various occasions that Bitcoins is worthless and it of the same status like tulip or Beanie Babies hype. Going against Max Keiser, last year Schiff added that digital currency market signals are wrong signals to be supported on:
“Bitcoin is being created but there is no real value in bitcoin; it’s all based on faith. If somebody doesn’t want your bitcoin there’s nothing you can do with it, right?” asks Schiff during the debate with Keiser.
But, as it turns out – Peter Schiff is accepting cryptocurrency through Bitpay, the payment processor. As he told the audience in the Libertycon conference in Washington DC, in the first chance he cashes out into traditional currency during the debate with Sterlin Lujan – Bitcoin.com Communications Ambassador.
Now the economist’s bullion company Schiff Gold accepts the decentralized cryptocurrency bitcoin cash (BCH). Although Schiff Gold accepts BCH through the payment processor Bitpay the company says the firm believes precious metals is the best solution for a safe-haven asset.
“We strongly recommend physical precious metals as the best long-term, safe-haven assets and caution our clients to avoid speculative investments,” explains the company’s website.
However, we also support any free market approach to money and barter and recognize bitcoin as a valid payment system — We are proud to work with Bitpay to process your transaction in bitcoin.”