You Can Now Buy a Coffee Mug Featuring Peter Schiff’s Tweets About His Lost Bitcoin

Siamak Masnavi

Although famous gold bug and Bitcoin skeptic Peter Schiff constantly manages to anger the members of the crypto community with his regular negative tweets about Bitcoin, this does not seem to stop Bitcoiners from wanting to read his tweets, and now some of his latest tweets are being commemorated with memorabilia.

Schiff 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. He is also a man who is extremely bullish on gold, bearish on the U.S. dollar, and highly skeptical about Bitcoin.

On 4 July 2019, Schiff revealed that he owned some 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.

Then, on January 19, Schiff took to Twitter to express his anger with Bitcoin after allegedly losing access to the crypto wallet that holds his bitcoin:

Although Schiff said at the time that the wallet app he was using -- which we now know was the iOS version of Blockchain Wallet (made by Blockchain.com) -- had "somehow" become "corrupted" and that is why his password -- which he was sure of remembering correctly -- was being rejected, most people in CryptoTwitter, such as Anthony Pompliano (aka "Pomp"), seemed to believe that this was just a case of a "boomer" who has simply forgotten his wallet's password:

Schiff however kept on insisting back then that he had not forgotten his Bitcoin wallet's password:

Then, on January 23, the mystery of Schiff's alleged "corrupted" wallet was solved when Schiff finally realized that he had indeed forgotten his wallet's password and admitted this mistake:

Interestingly, earlier this week, Tim Copeland, Deputy News Editor at Decrypt, reported that some of Schiff's funnier tweets about his lost Bitcoins are being turned into memorabilia.

After reading Copeland's article, Schiff sent out this tweet to joke that he was not receiving any royalties for any of these commemorative objects:

Perhaps, the best lesson that can be learned from all of this -- besides not tweeting when angry -- is that when Bitcoiners set up a wallet for a colleague, friend, or relative, they should make sure that the owner of the new wallet is made aware of how important it is to keep safe (either in physical or digital form) their wallet's 12/24 word seed/recovery phrase.

Featured Image Courtesy of Liberty Mugs

Bitcoin’s 90-Day Active Supply Points to Bullish Phase Ahead: Report

Michael LaVere
  • New Stack Funds report found bitcoin underwent a surge in its 90-day active supply, pointing to a bullish phase ahead.
  • Bitcoin's 90d % has returned to pre-2017 bull run levels, indicating holders are switching to a long-term investment strategy.

Bitcoin’s 90-day active supply has reached its pre-2017 bull run level, pointing to a possible bullish phase in the cryptoasset’s future. 

According to a report published by digital asset manager Stack Funds, bitcoin ended Q2 2020 on a strong note, with holders continuing to consolidate and adopt a long-term investment strategy. The report claims bitcoin underwent a surge in its 90-day active supply over the last quarter, which serves as an indicator for the sentiment cycle of coin holders. 

The report reads:

Prior to the 2017 and 2019 bull run, where Bitcoin hit $20,000 and $14,000 highs against the dollar, there was evidence of steep surges in the 90d % active supply [...] These occurrences tend to peak for a window of 60 - 90 days, before Bitcoin’s induced price rally is realised.

Stack Funds continued, saying the spike in active supply has historically pointed to a run-up in bitcoin prices, which the authors believe “could happen sooner rather than later.”

The report also found a general tapering in bitcoin’s 90-day active supply over the past three years, suggesting that investor’s time horizon has lengthened, with investors holding BTC over longer periods. The authors claimed it has become apparent that investors are “accumulating the digital asset with expectations of a potential price increase.”

Featured Image Credit: Photo via Pixabay.com