Bitcoin is a cryptocurrency, which raises a lot of emotions. Along with that, more and more people speaks on its subject. These comments are not always positive for cryptocurrency. In this article, you will find the biggest Bitcoin enemies in 2020.
Peter Schiff and his gold obsession
This person is often appearing on main pages of top cryptocurrency news websites. He is a media person looking for a fame and spotlight. Despite being an economist and financial commentator, most of his statements can be undermined. Peter Schiff is famous for hating Bitcoin and love for gold. Not so long ago, market has been flooded with further cryptocurrency insults and unfavorable comments.
On 25th of February, Peter Schiff wrote on his Tweeter account, that it makes no sense that Bitcoin proved to be better than gold and be a safe investment. Let's take a look on what both of these assets have brought over the past year. Although gold turned out positive over the past year, from January to December 2019 it was a profit of 17.8%. At the same time, those who bet on Bitcoin long-term investment could gain 96%. According to that short analysis, the words said by Peter Schiff are therefore unfounded.
He summarized his statement with aggressive words, telling, that there are so many people investing Bitcoin every day. He means, that most of them does not understand the point of investing. Well, let's just leave this without comment... Now the question arises: Is it worth following opinions of people such as Schiff, that have no idea about cryptocurrencies at all? Not so long ago, Peter Schiff announced, that he has lost his Bitcoin wallet private keys. As it turned out, he mistook them with his PIN.
Warren Buffet claims that he doesn't have any Bitcoins
Another noisy character in cryptocurrency industry is Warren Buffet. Let us remind you, that at the end of January he had a meeting with Justin Sun, the CEO of Tron. Justin Sun has won this meeting by donating $4,5 millions during the auction.
So far, Warren Buffet has been one of the best and respected investors. He has shown a lot of skepticism for cryptocurrencies. He once reffered Bitcoin to "rat poison".
It's worth telling, that during the lunch, Justin Sun has donated one Bitcoin to the CEO of Berkshire Hataway. Although he received that, during the one of interviews for CNCB, Buffet claimed that he does not own any cryptocurrencies. Moreover, he added, that all cryptocurrencies are worthless.
This investor has succeed because of his simple and conservative strategies. As it turns out, he has avoided new speculative services. That is why he is so skeptic about cryptocurrency investments.
Charlie Munger and his lack of understanding for BTC
Charlie Munger has recently spoke disapprovingly about cryptocurrencies and Bitcoin. In one of interviews, he said that he hates things like Bitcoin, becuase they are anti-social. Moreover, he once called Bitcoin as a worthless false gold.
There are many more people, who can be includded to this list. Those who have been mentioned above has recently made a lot of buzz in cryptocurrency industry. Their statements have been repeated many times. Because of that, it is worth looking at the motivation that guided them, to post such comments about cryptocurrencies. As we dive into their statements, we can see that Peter Schiff loves gold. It is a blind love. He does not see anything except gold investing. Warren Buffet and Charlie Munger are experienced investors, but they are from previous decade. They do not see the technological improvements and what does cryptocurrencies brings with them to market.