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People don’t have Bitcoin as a haven of value


Within the crypto world, one of the most widespread opinions is one that defends that Bitcoin is an active store of value. However, the behavior of the cryptocurrency during this pandemic has caused critical voices to be raised with this position. So it comes as no surprise that one of the world’s biggest crypto skeptics, Peter Schiff, spoke out in an interview saying that people don’t have Bitcoin as a haven of value.

Is Bitcoin an asset store of value?

This is without a doubt one of the longest and fiercest debates within the crypto community. Well, when it seems to have reached a conclusion, new signs and theories always appear that allow it to reopen. Discussing for the umpteenth time whether Bitcoin can be considered a safe haven of value.

In this sense, the arguments of each part of the discussion are quite clear. On the one hand, there are those who defend that Bitcoin is effectively an asset value reserve. Establishing that there is no direct relationship between the financial market and the performance in the price of BTC. So, like gold, the cryptocurrency would serve as a refuge for capital in times of economic, political or social uncertainty.

While those who do not believe that Bitcoin is an asset value reserve, point out how during the last great crises that have affected the financial markets. The BTC price, far from resisting while the other assets collapsed, also plummeted. What, according to these analysts, would demonstrate that the cryptoactive cannot be considered a refuge for capital.

According to Peter Schiff, people don’t have Bitcoin as a haven of value. Source: CoinDesk

Peter Schiff is pronounced

And now, the gold mogul and famous crypto skeptic, Peter Schiff, has spoken about this debate in an interview with the podcast “What Bitcoin Did” with Peter McCormack. In which he declared that people who have Bitcoin do not think of cryptocurrency as a safe haven of value.

“I buy gold as a way to store my wealth, as a conservative place to maintain liquidity, rather than keeping it in dollars or some other fiat currency. I think when people are buying Bitcoin, they really aren’t looking for that.” Schiff commented on the podcast.

Thus, Peter Schiff would be consistent with the opinion he has expressed on other occasions about crypto users. Qualifying Bitcoin as a speculative product, and those who acquire it as people who only wait for the price of it to increase for profit.

People who buy Bitcoin are not looking for stability. They do not seek to maintain their purchasing power. Almost everyone I talk to who is interested in Bitcoin thinks it will go up to $ 50,000, $ 100,000, $ 1,000,000

In this way, Peter Schiff participates in the debate around the quality of Bitcoin as a haven of value. Siding with those who do not consider that the BTC meets the requirements to be considered one. Making these statements our Today’s Data here at CryptoTrend.

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