Peter Schiff: “I just lost all the Bitcoin I ever owned”

Peter Schiff, a gold proponent and asset manager, has long been a skeptic about Bitcoin and other digital currencies. Indeed, Schiff has commented on the crypto currency over several phases. Today, on Sunday, he further reiterated his dislike of Bitcoin. This time it was mainly for personal reasons and Crypto-Twitter quickly bit back.


Schiff received 1800 dollars in Bitcoin donations

Last year, in July, Peter Schiff posted a Bitcoin address on Twitter after being asked to do so by Anthony Pompliano, a proponent of the crypto currency and its technology, to start a fundraising campaign. Although Schiff had claimed that Bitcoin had no value in the real world in his opinion, many Bitcoin fans sent some satoshis to the address. 

The address soon had more than 0.2 BTC, which is currently about $1800. The Bitcoin critic did not pay out the donations and instead pledged to become a hodler, as Decentalbox reported. He added that he would then just “go down with the ship”. Funnily enough, however, it now seems that Schiff may no longer be able to hodel his Bitcoin.


“Wallet was damaged.” 

A few hours ago, Schiff suddenly told his 180,000 Twitter followers that he had just lost all the Bitcoin he had ever owned. By this he means the amount he received at the above mentioned donation address and another 100 dollars he once received as a gift. Schiff added:

“My wallet was damaged somehow, and my password is no longer valid. Now not only are my Bitcoin per se worthless, they have no market value. I knew owning Bitcoin was a bad idea, I just never realized it was so bad!”

With this thought in mind, the self-proclaimed Goldwanze said that he considered Bitcoin “basically worthless”, doubling his claim that he had made several times in the past. In light of this criticism and his earlier comments, Krypto-Twitter quickly refuted Schiff’s comments.

Anthony Pompliano told him that it was probably just a lost password, which is what happens when you’re irresponsible. Schiff objected, claiming that “his wallet forgot his password.” Digibyte’s Jared Tate also took the floor, explaining that if Schiff has properly secured his seed phrase and/or private keys, he should be able to get the Bitcoins back in time. This would mean that the BTC are not lost forever, as Schiff believes in his tweet.