Peter Schiff: ‘I Just Lost All the #Bitcoin I Have Ever Owned’

Siamak Masnavi

On Sunday (January 19), famous gold bug and Bitcoin critic Peter Schiff claimed that he had lost access to all of his Bitcoin holdings.

On 4 July 2019, Schiff, who is the CEO of Euro Pacific Capital, a full-service, registered broker/dealer specializing in foreign markets and securities, and founder and Chairman of SchiffGold, a full-service, discount precious metals dealer, and a man who is extremely bullish on gold, bearish on the U.S. dollar, and highly skeptical about Bitcoin, admitted to owning Bitcoin (BTC), Ether (ETH), and Bitcoin Cash (BCH), and said that he was going to HODL his bitcoin no matter what happens to the Bitcoin price.

Earlier today, Schiff took to Twitter to express his anger with Bitcoin after allegedly losing access to the crypto wallet that holds his bitcoin:

Although Schiff thinks that the wallet he was using has "somehow" gotten "corrupted" and that is why his password -- which he is sure of remembering correctly -- is being rejected, not everyone in the crypto community is convinced that is right.

One of those who believes that Schiff has simply forgotten his password is Anthony Pompliano (aka "Pomp"), Co-founder and Partner at Morgan Creek Digital:

After Schiff denied forgetting his password, Pomp, offered to help Schiff recover his bitcoin:

Interestingly, Schiff then claimed that the unfortunate situation with his wallet has not occurred because he incorrectly set up the wallet, and that it was in fact Eric Voorhees, Founder and CEO of ShapeShift, who set it up:

Carlos Acevedo, Director of Sales at Brave, then told Schiff that Bitcoin was not to blame and that if Schiff had used a cold wallet (such as a hardware wallet made by Ledger) or made a note of the recovery phrase, then this situation could have been prevented:

Schiff says that he did not change to a more secure wallet because he wanted all those people who had sent him bitcoin last year to be able to "easily monitor their value".

Although quite a few people are now blaming Voorhees for not making saving the private keys for the wallet he allegedly set up for Schiff, overall, there is not much sympathy for the man who has constantly been attacking Bitcoin over the past few years.

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