Peter Schiff, the American stockbroker and radio personality, who has earned himself the alias, “Gold bug” has taken to his Twitter handle to accuse the popular media house, CNBC, of deceiving its audience into buying bitcoins.
Chinese Not Turning to Crypto as Safe Haven, says Schiff
According to Peter’s tweet, CNBC devotes much more airtime to Bitcoin than it does to gold which has a much larger following than Bitcoin. Schiff also commented on the involvement of the Chinese in buying cryptocurrencies. The Chinese yuan recently fell to 11-year lows amid trade wars with the US, and Schiff, in his tweet, made the point that the Chinese were not buying bitcoin as a safe haven, but speculators were purchasing the cryptocurrency in the hopes that the Chinese would buy it and push its price in the future.
It is to be noted that CNBC actively reports about the cryptocurrency space. It publishes articles on the latest updates around cryptocurrencies and also organizes debates and discussions with eminent personalities from different industries that include both crypto enthusiasts and skeptics.
Schiff’s tweet regarding CNBC’s portrayal of cryptocurrencies has received mixed reactions from Twitter users and a few community members have even ironically applauded him for this tweet because they believe that it helps spread the word about bitcoin.
No comments were received from CNBC at the time of writing this article.