In the 13 years of Bitcoin's existence, we have witnessed gloomy predictions about its downfall. None of them came true, and yet…

However, there are persistent ‘prophets’ who find it easier to keep looking funny than to read the documentation of an open blockchain system and learn to keep the keys. Today’s text is dedicated to the grandiose clown from the famous banking family Schiff, who is trying to cover up his panic fear of his own business collapse with his ‘deep knowledge’ about the long-lost, centralized system of ‘securing’ the value of money.

Let’s be clear, as a banker, he cannot have a positive opinion about the technology that will leave him without the possibility of robbing savers in the future. It’s about his criticism of Bitcoin – without any basis in the facts – that is necessarily funny! And as such, susceptible to relentless ridicule online. Let’s start with his ‘early works’ – Peter Schiff in the late 2018:

Who could resist not commenting on this?

In August 2019, he ‘stood out’ by predicting that bitcoin would never exceed $ 50,000:

As early as November 2021, Bitcoin reached an all-time high of $68,000!

He then reached out to advise Nayib Bukele, the president of El Salvador who introduced Bitcoin as a legal tender and to this day bought 1801 Bitcoin as a state reserve:

It is true that Bukele started buying Bitcoin in September 2021, when its value was very close to its historical peak, and that is why his portfolio is currently short of some 11 million dollars. Not a big deal. It is enough to have a little patience while Bitcoin starts a new hyperwave, and the investment will return many times over. If Peter Schiff was not a clown, he would also cite the example of Michael Saylor, head of the MicroStrategy Fund, who started buying Bitcoin just at the time of the p(l)andemic panic ignition, in the Summer of 2020, when Bitcoin was worth close to $10,000. Since then he bought 125,051 Bitcoin and at this moment his profit is… wait for it: $1,726,095,148.51! Almost two billion dollars!

Of course, a new wave of ridicule followed!

Fortunately, his children are smarter than their father…

The clown remains the clown. He can’t change in the old days because he got too much profits in the previous fraudulent system to let it collapse now. It is in his interest to re-establish a system with centralized money control. But his and your interest are different. Bitcoin and financial salvation are in your interest.

Here’s a little more of Peter Schiff’s comedy:

And here’s what the reality of investing in bitcoin and gold looks like:

As usual, get used to a world without dollars by following the relationship between past and present measures of true value: gold and Bitcoin: