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Elon Musk Shills Dogecoin, Because He’s Late to Bitcoin Party: Peter Schiff

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Mon, 02/08/2021 - 08:55
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Yuri Molchan
Vocal Bitcoin hater claims that at the moment Dogecoin is playing the role of the leading crypto better than Bitcoin thanks to Elon Musk, the biggest public DOGE fan
Elon Musk Shills Dogecoin, Because He’s Late to Bitcoin Party: Peter Schiff
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Major Bitcoin opponent and Euro Pacific Capital CEO Peter Schiff seems to believe that, at the moment, Dogecoin shilled by Elon Musk is "better at being Bitcoin than Bitcoin."

Bitcoin evangelist, entrepreneur and investor, Anthony Pompliano, has commented on that in a recent tweet, trolling the gold bug Schiff.

DOGE
Image via Twitter

Peter Schiff claims DOGE can disrupt Bitcoin: Pomp

In a recent tweet, entrepreneur, investor and the host of a popular Bitcoin podcast, Anthony Pompliano, jokingly remarked that the regular crypto and Bitcoin hater Peter Schiff now claims that DOGE is going to take over Bitcoin.

BTC
Image via Twitter

Meanwhile, the chief of Euro Pacific Capital has tweeted that Dogecoin now has a higher chance of operating as the major cryptocurrency rather than Bitcoin, thanks to Elon Musk.

Earlier, the Tesla CEO admitted that he was "late to the Bitcoin party" and said that he is a BTC supporter now. Back then, he also tagged Bitcoin in his Twitter bio.

However, Elon has changed his mind since then. BTC is no longer in the bio section of his Twitter profile, and he has been shilling his old love, DOGE, again, tweeting that it is the "crypto of the Earth in the future" and claiming that Bitcoin "is arguably deflationary to a fault."

He added that Dogecoin can offer a higher transaction speed than the king crypto.

Schiff likens DOGE to the Facebook behemoth

The prominent Bitcoin hater has also compared Bitcoin and DOGE to two major social media platforms: Bitcoin to MySpace and Dogecoin to Facebook.

Bitcoin was the first-ever cryptocurrency to emerge just as MySpace appeared prior to Facebook. However, many in the crypto community would doubt that DOGE is better than Bitcoin, aside from the transaction speed.

No cryptocurrency will ever be able to replace gold, though, Peter Schiff claims.

Related
Elon Musk Explains Why Dogecoin Is Better Than Bitcoin as DOGE Breaks Into Top 10

Does Peter Schiff hold Bitcoin after all?

This major gold proponent claims to be against Bitcoin and all other cryptocurrencies, claiming BTC to be a Ponzi scheme and a bubble.

However, unlike other steady Bitcoin haters, such as Nouriel Roubini, Schiff tweets about Bitcoin very often and has now added Doge. Some in the community believe that the vocal Bitcoin hater might in fact be a Bitcoin holder; he would not be tweeting about it so often otherwise.

Last year, in January, Schiff tweeted that he was unable to access his $100 in Bitcoin that was given to him by Erik Voorhees, the ShapeShift founder.

This happened because Schiff confused the pin for the password, showing a lack of basic knowledge that a crypto holder has.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.