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Peter Schiff Says Not Owning Any Bitcoin (BTC) Is One Thing He Has in Common with Warren Buffett

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Mon, 02/24/2020 - 15:42
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  • Peter Schiff and Warren Buffett appear to be on the same page when it comes to Bitcoin (BTC) — both of them do not want it

Cover image via www.facebook.com
Contents

Peter Schiff, the CEO of Euro Pacific Capital, says that he and Warren Buffett have one thing in common — not owning any Bitcoin (BTC). In his new tweet, the gold bug once again attacked the leading cryptocurrency while complaining that CNBC never mentioned gold during their primetime interview with the Oracle of Omaha.        

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One thing they can agree on 

Currently, the global market sell-off that was driven by a sudden spike in the number of coronavirus cases is a front and center issue. Unlike Buffett, who still thinks that the US economy is strong despite today's headlines, Schiff insists that the stock market bubble has already popped.    

Even though their economic views might be drastically different, both Schiff and Buffett hate Bitcoin.  

As reported by U.Today, Buffett has just confirmed that he doesn't own any Bitcoin despite being given 1 BTC earlier this year. This amount is so minuscule for the billionaire that he doesn't even realize that he (probably) has it.  

Meanwhile, Schiff recently lost the password to his crypto wallet and claimed that owning BTC was "a bad idea."  

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An unnecessary comparison 

Some Bitcoiners took a jab at Schiff for comparing himself to the third wealthiest person in the world. Van Eck's digital asset strategist Gabor Gurbacs says that what they really don't have in common is $100 bln. 

Schiff's net worth stands at $70 mln while the Berkshire Hathaway CEO has a whopping $89.5 billion fortune.   

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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COVID-19 Crisis Ruins Bitcoin's Q1, but Bulls Could Soon Have Massive Comeback

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Tue, 03/31/2020 - 19:25
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  • Bitcoin (BTC) bulls have high hopes for Q2 after the coronavirus-induced crisis tanked the price of the leading cryptocurrency

Cover image via stock.adobe.com
Contents

Bitcoin, the number one cryptocurrency by market capitalization, is set to finish its tumultuous first quarter of 2020 in the red with a 10.65 percent drop, according to crypto data provided by Skew.    

As reported by U.Today, it suffered a price crash of enormous magnitude due to the coronavirus pandemic that resulted in the global economic shock. 

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The stellar quarter that wasn't 

In early 2020, Bitcoin was on track to have its best Q1 since 2013. In fact, it gained more than 50 percent after reaching its current yearly high of $10,508 on Feb. 13. However, this rally hit a snag and BTC printed its first negative February close in six years

All bull dreams have been brutally shattered after the 'Black Thursday' of May 12. On top of halving its price in less than one day, BTC was actually in great danger of hitting zero because of a string of liquidations on BitMEX. 

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The odds are in the bulls' favor  

That said, there is still a good chance that the bulls can stage an impressive comeback in Q2, which is historically the most successful quarter for the leading cryptocurrency.

Last year, BTC kicked off its impressive rally on Apr. 2 with a sudden 20 percent price pump.   

At press time, BTC is sitting at $6,480, continuing its streak of range-bound price action.  

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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