The basis of the article was Elon Musk's response to Schiff’s tweet, in which the Tesla CEO stated that "BTC and ETH do seem high." This tweet came out on Feb. 20.
Following that tweet, on Feb. 22, Bitcoin collapsed from the $56,000 zone to the $44,800 level briefly and then started to recover.
The factor that pushed Bitcoin down
The world's flagship cryptocurrency started a sharp correction after U.S. Treasury Secretary Janet Yellen referred to Bitcoin as an "inefficient way to conduct transactions."
Bitcoin dropped and Ethereum followed, dropping from its recent $2,000 down to the $1,400 area. It has recovered to the $1,600 zone by now.
Peter Schiff claims CNBC ignores him as a Bitcoin critic.
On his Twitter page, the CEO of Euro Pacific Capital, gold bug and rigorous Bitcoin hater has complained that CNBC did not mention his name in the article and stated that CNBC has banned him from their airwaves when it comes to discussing Bitcoin.
What's more, they do not even acknowledge his existence, as Schiff put it.
As covered by U.Today, in that Saturday thread, Peter Schiff tweeted that Elon Musk allegedly believes that fiat and Bitcoin are both rubbish, but BTC is simple a "less dumb form of liquidity than cash."
In response, the Tesla and SpaceX CEO stated that Peter Schiff might as well hold crypto, trolling him.
In the same thread, Musk wrote that Bitcoin and Ethereum do seem high, forming the basis for the CNBC story.
Schiff's middle name to eggplant emoji because of Elon Musk
Earlier this week, Peter Schiff tweeted that Tesla's shares have been down substantially after the company announced its $1.5 billion bet on Bitcoin.
In response, Musk sent Peter Schiff an eggplant emoji, hinting that he should mind his own business. The head of Binance shared a popular interpretation of the eggplant emoji usually associated with things like Pornhub.
Now, Schiff has added this emoji to his Twitter name, saying that it is "courtesy of Elon Musk."