Peter Schiff: whales earn from small bitcoin holders

Peter Schiff, financial expert and irreconcilable critic of Bitcoin, expressed the opinion that large holders of digital gold are getting richer, while small investors patiently keep cryptocurrency in the hope of its inevitable growth.

Bitcoin hodlers won't sell as they believe they'll get rich when #Bitcoin moons. Bitcoin whales get rich by selling now to realize their paper gains before a market crash wipes them out. The whales must make sure the hodlers don't lose faith and cash out so that they can cash in!

– Peter Schiff (@PeterSchiff) October 29, 2019

“Bitcoin-scammers will not sell because they believe that they will become rich when Bitcoin goes to the moon. Bitcoin whales are getting richer by selling and fixing their profits before the market crash. The whales must make sure that the scammers do not lose faith and do not go into fiat! ”

Soon, a lot of critical comments gathered under the tweet addressed to Schiff. For example, CryptoBull wrote that he talked about this when Bitcoin was trading at $ 15.

You have been saying this since bitcoin was $ 15 …

– Crypto₿ull (@CryptoBull) October 29, 2019

Gabor Gourback, Head of VanEck's Digital Assets Division, asked if this applies to all markets.

All markets except GOLD of course!

– Coyote (@CryptoCoyote) October 29, 2019

“Everyone, except for the gold market, of course!”, The Coyote user replied, hinting that Schiff is a well-known supporter of this metal.

Earlier, Peter Schiff said that Bitcoin cannot be classified as defensive assets. He also complained that the media allegedly paid too much attention to the first cryptocurrency.

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