Main navigation

Peter Schiff Tells Elon Musk Why Getting Paid in Bitcoin Makes No Sense

Mon, 11/01/2021 - 9:24
Peter Schiff Tells Elon Musk Why Getting Paid in Bitcoin Makes No Sense
Cover image via
Read U.TODAY on
Google News

Vocal Bitcoin critic Peter Schiff has taken to Twitter to respond to tweets by Elon Musk and writer Ben Mezrich about getting paid in Bitcoin.

The CEO of Euro Pacific Capital, Schiff, in his usual manner, criticized Bitcoin and explained why getting paid in BTC is unwise.

Accepting Bitcoin payments "makes no sense"

On Friday, Ben Mezrich, the author of the bestselling "Bitcoin Billionaires" book and "The Accidental Billionaires," which was later made into the "Social Media" movie, tweeted that he would never again turn down getting paid in Bitcoin, without mentioning any particular cases when he did turn down such an offer.

Elon Musk, Tesla CEO and the world's wealthiest man as of late, responded, agreeing with the writer.

Image via Twitter

On Sunday, Peter Schiff stepped in to say that, in his view, these two people are wrong.

For Schiff, getting paid in Bitcoin makes no sense, since it is playing the game somebody else's way. If somebody wanted to bet on this "bubble," he says, they should do it in their own time and at the price they see best.

Elon Musk Admits He Wouldn’t Mind Getting Paid in Bitcoin

Gold might cost more without the Bitcoin hype, Schiff says

The Bitcoin critic, who is also a gold bug, stated that payments in gold will stay relevant long after Bitcoin is forgotten - as they have been for centuries already.

People have been accepting payment in #gold for centuries, and they will be asking for payment in gold long after Bitcoin has been forgotten.

In an earlier tweet, Schiff assumed that Bitcoin had not disrupted gold (or anything else, with central banks and governments mentioned). He admitted, though, that gold may be a little higher than it is now if it were not for Bitcoin.


Latest Press Releases

Sui Recognized as 2024 Blockchain Solution of the Year at AIBC Eurasia Awards
ElmonX Unveils ‘The Scream’ NFTs by Edvard Munch For The First Time Ever
World's First Bitcoin Layer 2 Conference to Unite East & West in Hong Kong, April 2024
Is Bitcoin Mining Legal? Regions in the World Where Mining Is Legally Permissible
Zircuit, New ZK-Rollup Focused on Security, Launches Staking Program
AI Analysis Launches The AIA Mastercard – The Future of Crypto-Fiat Transactions
VAP Group hosts the majestic Global Blockchain Show 2024 in Dubai
Digital Transformation Week Is Returning to Santa Clara This Summer
Arab Financial Services (AFS) Enter Strategic Alliance with Xpence to Innovate SME Financial Management in Bahrain
Breaking Records: UXLINK Attracts 978,000 New Web3 Wallet Registration with $78,000,000 Deposit asset from February 01 to February 22, 2024
What To Expect from The Bitcoin Halving in April 2024
Testnet Launch for dWallet Network - Composable Modular Signature Network
ETH Denver Top Builders Base by Supermoon, Cointelegraph, NDC, Horizen, & Conflux
Citrea, Bitcoin’s First ZK Rollup, Announces $2.7M Seed Funding
Chromia’s Flagship Game ‘My Neighbor Alice’ Unveils 2024 Roadmap
First-Ever ICO on Bitcoin Blockchain: $3.1M Raised in Under 6 Days
CoinList to Host the MASA Token Public Sale as it Unleashes the World’s Personal Data Network
Sui Reveals Initial Wave of Speakers, Famed Venue for First Annual Basecamp Event
Vitalik Buterin Comes to Taiwan as Keynote Speaker at ETHTaipei 2024
Elevating Europe’s Crypto Hub: Next Block Expo Returns to Poland
Our social media
There's a lot to see there, too

Popular articles