Poker Star Mike McDonald Praises Ardent Bitcoin Critics Like Peter Schiff and Nouriel Roubini

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Sun, 05/17/2020 - 18:43
Alex Dovbnya
Poker champ Mike McDonald says that permabears in the likes of Peter Schiff and Nouriel Roubini deserve some respect for their conviction
Poker Star Mike McDonald Praises Ardent Bitcoin Critics Like Peter Schiff and Nouriel Roubini
Cover image via U.Today
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Mike McDonald, a poker champ with a penchant for Bitcoin, has some words of praise for the detractors of the world’s leading cryptocurrency.

In a new tweet, he says that he has a lot of respect for Peter Schiff and Nouriel Roubini, some of the loudest Bitcoin critics, for sticking to their conviction.

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The wrong side of history 

Schiff and Roubini have quite a few things in common -- both are noted economists who rose to worldwide fame after calling the global financial crisis of 2008-2009.

They also dismissed Bitcoin as a fad from the get-go and had to remain on the sidelines of its meteoric rise in the 2010s.

Back in April 2013, Roubini famously tweeted from his Blackberry that Bitcoin dropped another 40 percent below $58.

Meanwhile, Schiff turned a Bitcoin permabear as early as in June 2011 when he wondered whether the cryptocurrency would be accepted by anyone in a few years.

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Skepticism is a safe bet

McDonald says that it’s ‘safe social risk/reward’ for prominent entrepreneurs to remain skeptical of Bitcoin.

Back in January, Musk claimed that cryptocurrencies could replace cash on a podcast, but he was "neither here nor there" on Bitcoin

Recently, he tried to explain Bitcoin to J. K. Rowling while confirming that he still owned only 0.25 BTC. 

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, can be contacted at alex.dovbnya@u.today.