Bitcoin (BTC) and Ether (ETH) are empowering but gold is “dead,” billionaire Mark Cuban has told one of cryptocurrency’s biggest naysayers.
In a Twitter debate on Mar. 2, Cuban, who has become increasingly sympathetic to crypto, warned Peter Schiff that gold “will die” as a store of value (SOV).
Cuban to Schiff: “Gold is dead, move on”
Schiff, a gold bug who has long made a name for himself as a firm Bitcoin skeptic, continues to tweet disparaging comments about the phenomenon despite BTC/USD regularly hitting new all-time highs.
Responding to remarks about Wall Street firms being “dumb” by buying it, Cuban offered a dose of surprisingly pro-Bitcoin medicine.
“Let me help Peter. Gold is hyped as much as Crypto. Do we really need gold jewelry? Gold can make you a ring,” one tweet reads.
“BTC/Eth are technologies that can make you a banker, allow friction free exchange of value and are extensible into an unlimited range of biz and personal applications.”
Continuing, he gave a stark verdict on the future of gold.
“What we are seeing built w/crypto today is just proof of concept. As tech continues to get better/cheaper/faster there will be new Title: Bitcoin is technology but gold ‘is dead,’ Mark Cuban tells Peter Schiff
Sourced From: cointelegraph.com/news/bitcoin-is-technology-but-gold-is-dead-mark-cuban-tells-peter-schiff
Published Date: Wed, 03 Mar 2021 10:30:22 +0000