While his electric car company announced the purchase of Bitcoin a few weeks ago, Elon Musk finally became a real Bitcoin customer last night by participating in the popular crypto Twitter hobby: indulging in Peter Schiff.
Yesterday morning, Schiff, a famous skeptic of the gold and bitcoin beetle, tweeted against Elon Musk’s comment that bitcoin is the wrong currency, but is still better than the paper alternatives:
Schiff noted that as an “engineer”, the founder of Tesla should know the difference between a “physical item” and a “series of numbers”, stating that gold has a greater value than Bitcoin.
“Money is not data. Data can represent money, but it cannot replace it. Money improves in barter, gold improves money, data improves #Gold. Bitcoin is the return of barter. All sellers accept money. With #Bitcoin, you have to find a seller.” He has what you want and wants what you have, ”
In response, the Tesla founder criticized Schiff’s view of third-party gold storage as an extra layer of trust, saying he “could have a cryptocurrency”.
Given how Musk frivolously promoted the Dogecoin meme, he also made a statement with possibly an unexpected follow-up, warning that Bitcoin and Ether prices are “high.”
Despite the restraint, the data on Twitter is only the last confidence of the world’s richest man in cryptocurrencies. Earlier this month, Tesla spent 7.7% of its total cash buying $ 1.5 billion bitcoins, then stated that “just a fool” would not seek investments other than fiat currencies.
Meanwhile, Chef continues to be such a versatile punching bag that restaurants serving shawarma come here for the fun. Although he admitted recently that Bitcoin is not a scam he was once accused of, he still advocates strongly for the use of physical bullion as an investment. His blank tweets continue even as the investigation into his bank continues.