Peter Schiff’s Bitcoin Rejection Is No Surprise—But The Economist Once Called Dogecoin A ‘Superior’ Cryptocurrency
Peter Schiff has been one of the most outspoken critics of Bitcoin (CRYPTO: BTC), questioning the apex cryptocurrency’s value proposition and investment rationale of those holding it.
The dislike has been to such an extent that he once termed Dogecoin (CRYPTO: DOGE), a meme-based cryptocurrency, as superior to Bitcoin.
What happened: In an X post in February 2021, Schiff traded his guns on Bitcoin advocates who expressed concern over tech billionaire Elon Musk’s social media promotion of Dogecoin
One of the critics was Galaxy Digital CEO Mike Novogratz, who dubbed Dogecoin a “joke” and a risk-laden investment in contrast to Bitcoin, which had a “real purpose,” per a CNBC report.
Schiff found these arguments ironical, noting that there was no distinction between Bitcoin and Dogecoin.
“In fact, Dogecoin, despite its being started as a joke, is arguably the superior cryptocurrency,” Schiff stated.
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