- The infamous Bitcoin hater, Peter Schiff, is now accepting BCH in his company.
- However, he still believes that precious metal remains the best option for a safe-haven asset.
The cryptocurrency community may be a bit surprised to know that Peter Schiff, the man who had previously likened Bitcoin to Beanie Babies, now currently accepts Bitcoin Cash as payment medium in his company.
Peter Schiff, the Gold bug, has disliked bitcoin for sometimes now. His belief is that Bitcoin has no worth and considers the cryptocoin to be nothing more than just a Beanie Baby. Peter Schiff stated: “cryptocurrency market signals are wrong” during a debate with Max Keiser. Schiff asked at the debate:
“[Bitcoin] is being created but there is no real value in bitcoin; it’s all based on faith. If somebody doesn’t want your bitcoin there’s nothing you can do with it, right?”
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Though Peter Schiff claims he doesn’t like bitcoin, he now accepts Bitcoin cash (BCH) through the payment processor Bitpay in his gold company Schiff Gold. When addressing the audience at the Libertycon conference in Washington, DC, Schiff said he converts the BCH into fiat as soon as possible. He, however, added that his bullion company Schiff Gold holds that gold remains the best solution for a safe-haven asset.
Supporters of Bitcoin Cash were glad to hear this news about Peter Schiff company accepting the Bitcoin cash. Schiff Gold has now joined other precious metals company such as Apmex, Silvergoldbull, and JM Bullion, etc. that accept cryptocurrency for payment as well.
This may, however, be a motivation to other gold companies to begin accepting cryptocurrency, though recently, there was a report that Reddit has removed Bitcoin from among its payment options.
Tell us in the comment box your opinion about Peter Schiff Gold’s change of mind towards accepting bitcoin cash.