Peter Schiff, the CEO of Euro Pacific Capital, took to Twitter to respond to MicroStrategy CEO Michael Saylor. In a recent interview, Saylor remarked on the company’s long-term plans for Bitcoin.
MicroStrategy To Hold BTC Forever
Saylor referred to Bitcoin as “digital property” and “the future of property” in an interview with Bloomberg TV on Friday. He expects all governments, banks, institutions, and retail investors to own Bitcoin in the future.
MicroStrategy aims to obtain as much Bitcoin as possible by continually buying BTC, he added. This is due to the restriction of 21 million on BTC offerings.
When questioned if MicroStrategy will adhere to the 10-year term mentioned by Saylor or sell their BTC sooner, the company’s chief executive replied that he hopes MicroStrategy will keep Bitcoin “forever.”
Peter Schiff Attacks Saylor
However, the gold worm, Schiff blasted Saylor, stating that he won’t be able to take “his Bitcoin to the cemetery.”
“Now @michael_saylor has gone completely mad. His latest #Bitcoin pump is that it’s an asset you can take with you after you die. He may well end up taking his Bitcoin to the grave, but I doubt he’ll be able to buy anything with it in heaven either, or in Saylor’s case maybe hell.“
In response, Saylor published an article about gold being stolen from Egyptian pharaohs’ graves. Additionally, implying that you cannot store wealth after death.
Many Bitcoin millionaires have talked about giving their bitcoin to their children and grandkids on Twitter, which has been their main reason for “still being early.”