⁠Bitcoin has no backing, Peter Schiff reminds Max Keiser

⁠Bitcoin has no backing, Peter Schiff reminds Max Keiser

Gate Trade News Wednesday, November 6, 2019 29 16

China launching a digital counterpart of the yuan backed by gold puts Bitcoin (BTC) at a disadvantage, veteran gold bug Peter Schiff claims. 

 

Schiff also repeated his oft-quoted idea that Bitcoin has no intrinsic value

 

Beijing outlawed cryptocurrency trading in September 2017, a situation which officially remains the same despite rumors that investors are using different on-ramps to gain access.