The famous gold investor Peter Schiff recently tweeted that he lost access to his BTC wallet. This happened due to an error with his password. As a result, he has lost all access to all the BTC he has ever owned. In the tweet, he added that always knew owning Bitcoin was not a good idea.
Crypto Community Responds
As expected, the crypto community did not react kindly to his tweet claiming that investing in gold was a bad idea. One of those that responded to him was Justin Sun, the CEO of Tron. In his tweet, he offered to help Peter Schiff recover his coins if he still had the private key with him. Many others offered to help him recover his details.
In response to one of the offers for help Schiff tweeted that Eric Voorhees, who helped him set up the wallet, thought nothing could be done. He added that if anyone thought it was possible to retrieve the BTC, he or she was welcome to try.
Some of those who responded to the tweet were not buying his story. They said that he simply pulling off a publicity stunt. One person wondered how he was able to run a company if he could remember a simple password.
Outspoken BTC Critic
Some of those who wondered if he was simply pulling of another stunt may be justified. Peter Schiff is a well-known critic of crypto. He has tweeted that he expects the price of BTC to drop to zero. His latest prediction is that the price of BTC is headed for $1000 and that it will never recover. Despite his negativity, the price of BTC has been rising in the past few days.
However, he is a firm believer in gold as the ultimate haven. He believes that the current global economy is very weak and it is tittering on collapse. Schiff believes the next financial crash is coming as soon as this year. We might never know for sure if he lost his BTC or he is simply highlighting how bad an investment he believes crypto to be.