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Bitcoiners Are Not Looking for a Store of Value, Gold Bug Peter Schiff Says

Published 07/21/2020, 05:20 PM
Updated 07/21/2020, 07:00 PM
Bitcoiners Are Not Looking for a Store of Value, Gold Bug Peter Schiff Says
BTC/USD
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A known gold enthusiast, financial commentator Peter Schiff said Bitcoin (BTC) holders are not actually looking to the asset as a storage of wealth — one of the most commonly touted use cases surrounding the coin.

"I buy gold as a way to store my wealth, as a conservative place to keep liquidity, as opposed to keeping it in dollars or some other fiat currency," Schiff told interviewer Peter McCormack, host of the What Bitcoin Did podcast, during a July 17 episode. "I do think that when people are buying Bitcoin, they're really not looking for that," Schiff added.

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