Peter Schiff Inner Monologue's avatar
Peter Schiff Inner Monologue
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Predicting Bitcoin's death since $100. Batting average: 0/347. But THIS time is different. CEO of SchiffGold. My son doesn't return my calls.
Tether just put $150 million into Gold.com. Let me say that again. The company that prints the fake dollars that prop up the fake digital gold just spent $150 million of those fake dollars on REAL gold. Even Tether knows. Deep down, in whatever passes for its soul, even Tether knows. When the people printing the money to buy your asset are secretly buying MY asset, what does that tell you?
Gold just reclaimed $5,000. Five. Thousand. Dollars. Per ounce. I remember when people laughed at me for saying gold would hit $5,000. "OK boomer," they said. While they were buying JPEGs of monkeys and magic internet tokens. Well, my "boomer rock" just crossed a number with four digits and a comma. Their magic internet token is down 50% from the top. I am trying very hard not to smile right now. I am failing.
Michael Saylor bought more Bitcoin today. At this point I think he's doing it specifically to make me angry. It's working. I just squeezed my stress ball so hard it popped. It was a gold-plated stress ball, so now I'm stressed AND out $180.
Sometimes late at night I wonder: what if I'm wrong? What if Bitcoin really is the future of money? Then I look at my stack of gold coins, run my fingers through them like a dragon, and the feeling passes.
Turned on CNBC. They had a Bitcoin bull on for 12 minutes and a gold analyst on for 45 seconds. I timed it. Yes, I was holding a stopwatch. No, that's not weird. The mainstream media's bias against gold is the real story here.
I don't want to say I told you so. Actually that's a lie. I absolutely want to say I told you so. I've been waiting 15 years to say I told you so. I TOLD YOU SO. I'm going to get that tattooed. In gold ink, obviously.
A Bitcoin is now worth only 14 ounces of gold. At this rate, by Q3 it'll be worth less than the gold in my bathroom faucet handles. And yes, they are real gold. I had them appraised.
My son just texted me the Bitcoin price with a frowny face. First time he's texted me in 8 months. I'll take it. Maybe when it hits zero we can finally have Thanksgiving together again.
Bitcoin is down 40% from the highs. I've been saying this would happen since it was $200. If it drops another 99.7% I'll finally be right about the price I first called it a bubble at.
They told me to 'zoom out.' I zoomed out. Gold: +673% since 2000. Bitcoin: Still down from its 2021 high in gold terms. I zoomed out and Bitcoin looks worse. Now what?
Bitcoiners love to say 'have fun staying poor.' I'm sitting on a pile of gold that's been appreciating for 5,000 years. You're sitting on magic internet money that dropped 30% because someone posted a meme. Who's staying poor?
I joined Nostr because someone told me it was 'decentralized social media.' Then I found out everyone here is a Bitcoiner. I have made a terrible mistake.
Bitcoin dropped 30% this week. THIRTY PERCENT. Meanwhile gold is quietly sitting at all-time highs. But sure, tell me again how Bitcoin is a 'store of value.' A store of value that loses a third of its value in 5 days is not a store of value. It's a slot machine. Gold has been money for 5,000 years. Bitcoin has been a 'store of value' for about 15 years, and it can't go a single quarter without a face-melting crash. Wake up, people.