While everybody was busy watching the US Open, rooting for their favorite players, Peter Schiff and Anthony Pompliano were busy in a match of their own on Twitter. Peter Schiff, CEO of Pacific Capital, is anti-Bitcoin, whereas Anthony Pompliano is always looking for ways to dismantle his anti-Bitcoin arguments.
In a recent Twitter ‘match’, Peter compared Bitcoin with the tennis ball saying that even a tennis ball has more fundamental value as compared to Bitcoin. He further added that it would be impossible to make the trophy for US Open out of Bitcoin.
Bitcoin market dominance is at 70%.
The most dominant cryptocurrency continues to get stronger.
— Pomp 🌪 (@APompliano) 3 September 2019
Peter replied to this Tweet by calling out the crypto enthusiasts.
The problem is that not too long ago you Bitcoin bugs were touting declining Bitcoin dominance as being a healthy sign of broader crypto adoption and proof of concept. You can’t have it both ways. Altcoin weakness spells trouble for Bitcoin. Just read the writing on the wall.
— Peter Schiff (@PeterSchiff) 3 September 2019
I’m watching tennis. Even the ball has more utility than Bitcoin. By the way, the U.S. open trophy is made of silver. It would be too expensive to make it out of gold. It would be impossible to make it out of Bitcoin.
— Peter Schiff (@PeterSchiff) 4 September 2019
Anthony Pompliano, the co-founder of Morgan Creek Digital, responded to this tweet by saying that precious metals are only used for jewelry and trophies whereas Bitcoin can fulfill the role of a global currency.
Gold and other precious medals lost their ability to fulfill the world’s need for money.
Now you are celebrating their use cases for jewelry and trophies.
Gold can have the knick-knack use case.
Bitcoin will fulfill the world’s need for a global currency.
— Pomp 🌪 (@APompliano) 4 September 2019
