The message was clear: “You’ve been wrong about everything for over 15 years. Why does anyone still listen to you?” Schiff’s response offered an interesting take on why some people, even if they do not agree with him on Bitcoin, still find value in his views.
He said that even if he has been wrong about Bitcoin, he has been right about a lot of other things in the financial world. Schiff says that his track record of getting things right — like gold prices and broader economic trends — is what made a lot of people decide to buy BTC in the first place.
These people trusted his other insights and relied on his overall understanding of the financial markets, even if they did not agree with the expert’s thoughts on cryptocurrency.
Considering how much of a gold advocate he has been all along, and the fact that the cryptocurrency is perceived as “digital gold” by many, including Fed head Jerome Powell, everything Schiff attributed to the precious metal in terms of inflation could be extrapolated to Bitcoin as the same financial tool.
In this case, Schiff’s comments about inflation and how to save money when it is skyrocketing may have prompted some to buy Bitcoin.
This article was originally published on U.Today
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