August 12, 2022

Bitcoin is technology but gold ‘is dead,’ Mark Cuban tells Peter Schiff

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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
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Published Date: Wed, 03 Mar 2021 10:30:22 +0000