Gold bug and Euro Pacific Capital CEO Peter Schiff has learned bitcoin HODLers are happy with the cryptocurrency trading below the $10,000 mark, as responses to a Twitter poll he created showed they will keep hodling.
The poll saw Schiff ask BTC hodlers how “much longer does the price of bitcoin have to stay below $10,000 before you will throw in the towel and sell?” While there are 12 hours left for the poll to end at press time, over 20,2000 Twitter users have already responded, with 57.6% claiming they will take BTC to their grave.
This quiz is for Bitcoin HODLers. How much longer does the price of #Bitcoin have to stay below $10,000 before you will throw in the towel and sell?
— Peter Schiff (@PeterSchiff) July 14, 2020
Out of the four options, 15.3% of users said they would sell in one more year, while 13.9% said it would take them three years to drop BTC. 13.2% said it would take them another decade to sell the cryptocurrency.
Schiff, it’s worth noting, is a well-known bitcoin bear that last month claimed he believes it is unlikely for BTC to ever trade at $25,000. His comments came in response to another Twitter poll, where he added no price point would see him “panic-buy” the cryptocurrency. Back in May, Schiff predicted the flagship cryptocurrency would “collapse.”
Twitter polls, it’s worth noting, and unreliable because they more often than not reach a biased audience. In Schiff’s case, the poll is likely reaching cryptocurrency proponents who may want to troll him given his comments on the cryptocurrency.
Despite the Twitter poll’s results, the precious metal has been outperforming BTC, reaching a nine-year high earlier this year. Its performance saw Boris Schlossberg, the managing director of FX Strategy at BK Asset Management and a long-time bitcoin bear, joke that gold is the “real bitcoin.”