Peter Schiff targets crypto whales, suggests Bitcoin as pump and dump scheme – Bitcoin News

Peter Schiff stormed out on bitcoin hodlers. The bitcoin cynic took to twitter, hinting that bitcoin is the real pump and dump scam, and stating that crypto whales are the major players. He claims that whales are simply offloading their assets, and hodlers hold the coin expecting it to reach a new high.

ADVERTISEMENT

The infamous investor of gold and silver, Peter Schiff, leaves no tables unturned to criticize Bitcoin. On Tuesday, the crypto cynic chose to trash hodlers and targetted the whales parallelly. Schiff claimed that whales are over-ruling the market by unpacking their bags of assets and maintaining the faith of the hodlers.

According to the investor, hodlers keep on holding their cryptocurrency, expecting its value to rise to a new bar, and whales sell their currency and keep getting rich. Schiff tweeted,

The tweet somehow hints at Bitcoin being a pump and dump scheme as he states that whales hike up the prices so they can dump their holdings at a sufficient amount. Although Peter Schiff is one firm skeptic of crypto, he still accepts the payment in virtual currency in exchange for his precious metal.

ADVERTISEMENT
Ryan Asher
Ryan Asher
A post-graduate in business administration from Rutgers University, Ryan love to express his thoughts in writing. Ryan entered the crypto space by selling his car back in 2013 and investing the money into bitcoin. Apart from writing, Ryan loves to travel and believes that bitcoin is helping him fulfill his dream of traveling across the world.

Leave a reply

Please enter your comment!
Please enter your name here