On 19 January, the famous critic cryptographer and probably the biggest fan of gold in the world, Peter Schiff, said on Twitter that he lost access to his Bitcoin wallet.
I knew it made no sense!
Schiff also added that his BTC is now without any value, especially on the market. He also added that:
“I knew it was a bad idea to have Bitcoin, I just never realized it was so bad!”
I just lost all the #Bitcoin I have ever owned. My wallet got corrupted somehow and my password is no longer valid. So now not only is my Bitcoin intrinsically worthless; it has no market value either. I knew owning Bitcoin was a bad idea, I just never realized it was this bad! pic.twitter.com/6SJvDJOZU6
— Peter Schiff (@PeterSchiff) January 19, 2020
The core of the problem
After Schiff posted a post on Twitter about his loss, the crypto community quickly set out to rescue him. For example, co-founder and partner at Morgan Creek Digital Anthony Pompliano answered him, asking if he had forgotten the password, to which Schiff replied: “My wallet forgot the password.”
Pompliano in turn asked Schiff to send him a private e-mail.
“The software only executes commands given by people. Nothing can “forget.” Send me an e-mail and I’ll try to help you recover your lost Bitcoins. “
– he said.
Schiff, however, it looks like the case is more complicated, if not strange, because Schiff answered:
“Eric Voorhees has put a wallet on for me and even he thinks there’s nothing I can do. But you can try if you have any ideas.”
We all know that Schiff is known for his criticism of the crypto. Just before New Year’s Eve, he said that unlike any other asset class, BTC does not grow at the end of the calendar year as part of the so-called St. Nicholas’ Rally, which was supposed to show the weakness of the digital currency.
At the end of November, the investor stated on Twitter that BTC’s price would fall to USD 1,000 to “complete the formula”.
But let’s remember one thing. He is known for investing almost exclusively in gold. So he has a certain interest in criticizing the cryptocurrencies, which is bravely fighting for the rank of a new safe haven (this was proved during the recent crisis in the Middle East, when the BTC price jumped stronger than gold). Schiff may therefore deliberately attack digital assets which, according to research, take capital from the bullion market.