Peter Schiff Relishes Over Bitcoin Fall While Mark Bristow Criticizes Crypto

Peter Schiff, the vocal critic of Bitcoin has recently mocked the fall of Bitcoin and pointed out the rise in gold along with Mark Bristow criticizing the crypto space. Peter took it to Twitter and reminded his followers that gold has managed to reach a 20-week high, whereas Bristow, laid emphasis on the easy creation of cryptocurrencies and asserted that gold can not be printed.

Peter Schiff Mocks Bitcoin Fall 

Regardless of the constant media pumping, the leading cryptocurrency has failed to show any significant upward movement and over the past month, Bitcoin has witnessed several major falls in its prices.

One of the major reasons for the falling price of Bitcoin which ultimately led to a crash in the market is the Bitcoin opposing tweets by the CEO of Tesla, Elon Musk.

Following the tweet by Elon Musk in which he says Tesla is going to stop accepting payments in Bitcoin, a major fall in the market was witnessed.

In addition to this, the major Chinese associations related to the local central bank banned all the financial institutions to deal with businesses that are based on or related to cryptocurrencies. 

This marked the second blow to the flagship currency and played a vital role in the fall of Bitcoin.

Mark Bristow Believes Crypto can not be a Better Store of Value than Gold

The CEO of the gold mining company founded in the year 1983, Barrick Gold, Mark Bristow has recently shared his criticism in relation to the crypto space following the latest market crash.

Bristow shared a piece of advice in the favor of gold and said that the narrative that Bitcoin will be digital gold and even more positive outlooks that BTC is going to be a better investment tool has no significance.

He said:

“Cryptocurrencies and the other competing options have forced us to realize we need to work harder to create a fungible [option that] allows every person in the world to use it to pay for things.”