Outspoken crypto skeptic and gilded peddler, Peter Schiff, is once over again taking aim at the Bitcoin customs on Twitter.

Schiff predicts that the coming years volition see golden 'moon' while Bitcoin (BTC) "crashes back to World."

'Bitcoin bugs' don't sympathise coin

In a tweet posted on April 11, Peter Schiff predicts a reversal in what he describes every bit a persistent trend of "Bitcoin hodlers pok[ing] fun at gold investors" over BTC'due south dramatic outperformance of gold in recent years.

Schiff speculates that the tendency will opposite as gold "moons" in the coming years, predicting that the price of BTC "crashes back downwards to Globe."

Schiff too claims that the crypto community has accused him of failing to understand the technology underpinning Bitcoin, countering that "Bitcoin bugs" accept poor comprehension of money and its history:

"Bitcoin bugs charge me of not understanding technology. Just as I engage them on Twitter, I discover merely how petty so many of them understand nigh money, or its history. That helps explain why they were so easily suckered into #Bitcoin, and are then dismissive of #golden."

Crypto-Twitter responds

In response to the tweets, crypto-Twitter reacted with a mix of sarcasm, solidarity with gilt, and users competing to quote disparaging remarks regarding Bitcoin made by Schiff when the cost of BTC was yet in triple-figures.

1 cocky-described lover of Bitcoin and racquetball responded with a description of aureate as "primitive", posting:

"Information technology's the yr 2020, information technology's about fourth dimension we stop using rocks as coin or a store of value. It worked dandy for cavemen and non-digital societies. However, we are more avant-garde than that now. #Bitcoin is simply the better grade of money and to store your wealth in."

Taking a friendlier tone, user BRRRRRay wrote: "In fact, well-nigh of u.s.a. concur Gilt also" to chorus of young man gold-owning crypto hodlers announcing their exposure to both Bitcoin and precious metals.

ClawManSlippy accused Schiff of inciting crypto-Twitter in a bid to promote his golden business, tweeting:

"Why are you framing this upwards as Gold five. Bitcoin when the bodily enemy of wealth is unlimited coin printing past global governments? Or is this just a sales pitch for your business interests?"

At the first of April, investment firm Van Eck published a study noting a spike in the correlation between gold and Bitcoin during 2020.