Despite the rumors, there is no credible report that Peter Schiff has sold all his gold for Bitcoin. In fact, he has repeatedly denied such rumors and maintained his bearish stance on Bitcoin. He has also criticized companies and individuals who have chosen to invest in Bitcoin over gold, such as MicroStrategy and Michael Saylor.
According to Schiff, Bitcoin is a speculative asset that has no intrinsic value and is doomed to collapse. He believes that gold is a superior store of value and a hedge against inflation. He also advocates for the use of blockchain technology to create gold-backed cryptocurrencies that can combine the benefits of both digital and physical assets.
Controversial views on Bitcoin
Schiff is well-known for his controversial views on Bitcoin and his frequent debates with Bitcoin proponents. He has often been accused of being biased and ignorant of the true potential of Bitcoin. Some people have even speculated that he secretly owns some Bitcoin and is trying to manipulate the market with his negative comments.
However, Schiff has always denied owning any Bitcoin, except for the small amount that was donated to him by his followers. He claims that he lost access to his Bitcoin wallet after forgetting his password. He also says that he does not regret missing out on the Bitcoin rally, as he expects the price to eventually crash.
Therefore, it is very unlikely that Schiff will ever admit that he was wrong about Bitcoin and sell his gold for it. He seems to be firmly convinced that gold is the future of money and that Bitcoin is a bubble that will burst sooner or later.