Peter Schiff, who always had a cynical approach towards Bitcoin has claimed now that even though the cryptocurrency is profitable, it is not competent enough to compete with money.

The bitcoin critic and a bigtime gold proponent, in a tweet on February 18 conceded that Bitcoin had tasted success in the last decade, and whoever bought it ten years ago would make a profitable choice if he decides to sell it now.
<blockquote class="twitter-tweet">
I concede that anyone who bought <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> 10 years ago and sells it today will make a lot of money. But I never said the price of Bitcoin could not rise. I only said that Bitcoin would never succeed as money. Nothing that has happened over the past 10 years has proven me wrong!
— Peter Schiff (@PeterSchiff) <a href="https://twitter.com/PeterSchiff/status/1229514482658967552?ref_src=twsrc%5Etfw">February 17, 2020</a></blockquote>
Peter Schiff was recently in the news for losing the key phrase to his Bitcoin wallet which he later recovered and has now become the owner of around 0.4 BTC<a href="https://www.cryptoknowmics.com/news/peter-schiff-aims-to-collect-one-whole-bitcoin"> again</a>. Schiff does appear callous towards bitcoin, but when he lost his holdings, he seemed<a href="https://www.cryptoknowmics.com/news/peter-schiff-locks-out-of-his-bitcoin-wallet-calls-bitcoin-unsafe"> quite angry</a> about it.

His complaint received little to no sympathies on twitter where Bitcoin-friendly agent, TravelbyBit replied by saying that Bitcoin has succeeded as money.

Schiff also added that the RT host Max Kaiser is continuing to refuse on debating with him after Keiser changed his Bitcoin price prediction which he made in 2012, from 100k to 400k. 
<h2>Is Peter Schiff Just Bitter About Bitcoin?</h2>
Bitcoin not only possess the three fundamental attributes required of money but does so considerably more effectively than fiat.

Bitcoin possesses the three primary attributes of money which are not just essential but also more effective than fiat. The fact that it has a fixed supply, pretty impossible to manipulate or mess with, give it the tag of being a “digital gold”, something which Schiff has failed in disproving.

The crux of the matter is Bitcoin is competent to usurp the generic market and revolutionize the financial system and one day replace gold as a store of value which people like Peter Schiff also can’t categorically deny.

Bitcoin Profitable, But Money Remains Undisputed -Peter Schiff

Bitcoin (BTC) cynic Peter Schiff has admitted that holding Bitcoin is profitable, but claims it will “never” replace fiat currency.

Zain is a fervid fan of bitcoin and has been meticulously covering the field for a fair amount of time now. An aficionado of Spider man, Liverpool and Slim Shady.

Bitcoin Profitable, But Money Remains Undisputed -Peter Schiff

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