Bitcoin's famous critic, Peter Schiff, has once again led the punch towards BTC. He said that Bitcoin's last rally from $9100 to $9600 was manipulation.
Peter Schiff vs Tyler Winklevoss
Peter Schiff responded to the tweet of Gemini Exchange co-founder and CEO Tyler Winklevoss. Winklevoss wrote that Bitcoin opposed the disinformation published by Goldman Sachs, who advised against investing in BTC and crypto.
Day after Goldman Sachs says don't buy bitcoin, bitcoin is up +$500.
Peter Schiff wrote in response that Bitcoin is a financial pyramid that has run out of "fools' supply". He added that whales like Schiff manipulate the price, trying to reduce the impact of bad news on the market. You can see the whole conversation below:
Probably due to whales like you manipulating the price higher to downplay the significance of the bad news. The supply of greater fools is running low, and is unlikely to include enough institutional investors to keep the pyramid scheme going.— Peter Schiff (@PeterSchiff) May 30, 2020
In response, Tyler Winklevoss sarcastically stated that the "supply of fools" will not end as long as people like Peter Schiff are around.
As long as you're around, the supply of fools will never be running too low.https://t.co/ijhJqqCRzT— Tyler Winklevoss (@tylerwinklevoss) May 30, 2020
Both investors have the same enemies
Peter Schiff and Tyler Winklevoss believe in two different assets: Gold and Bitcoin (BTC). However, despite their differences, both men on many occasions expressed their contempt for the Fed, which is constantly printing US dollars to counterbalance the economic impact of the pandemic. Peter Schiff, on Tuesday, advised investors to invest in gold and silver because the Fed has unlimited possibilities to print money. He wrote on his tweeter:
Jerome Powell just said that there is no limit to how large the Fed's balance sheet can grow, and that the Fed can inflate the money supply endlessly without ever having to worry about inflation resulting in rising consumer prices. Famous last words. Buy #gold and silver now.— Peter Schiff (@PeterSchiff) May 29, 2020
Tyler Winklevoss told the investors to beware of the central banks printing money. He recently issued a statement criticizing the Bank of England for considering negative interest rates. On the tweeter he wrote that this would make keeping money "under the mattress" more attractive than in the bank. Adding #Bitcoin at the end, he stressed that Bitcoin is the best protection against such a situation.