IOG CEO and Founder Explains Why Peter Schiff Would Never Share Good News About the Flagship Cryptocurrency
- “It’s really sad”
- Cardano ecosystem expands bet on Africa in 2022
Renowned “gold bug” and outspoken critic of Bitcoin (BTC), Peter Schiff, has launched another tirade to dismiss the flagship cryptocurrency as well as a $50 billion asset management company.
“It’s really sad”
The Europac CEO took to Twitter to slam Bitcoin investors and Cathie Wood’s digital asset conglomerate ARK. He noticed that the value of ARKK had just reached a yearly low and was trading 50% lower than in February 2021.
bad news for #Bitcoins. @CathieDWoodit is $ARKK fell another 5% today, hitting a new 52-week low, 50% below its February 2021 high. $GBTC closed another 4.5%. It is now 48% below its February 2021 high, trading at a 23.5% discount to NAV. Speculators remove their chips from the table.
— Peter Schiff (@PeterSchiff) January 13, 2022
Additionally, Grayscale Bitcoin Trust (GBTC), an OTC investment product that offers market participants exposure to Bitcoin (BTC) price fluctuations without the need to actually buy Bitcoin, is another target of hacker attacks. Schiff.
GBTC lost 48% of its valuation due to “speculators pulling tokens off the table”.
Charles Hoskinson, founder and CEO of Input Output Global, the software studio behind the development of Cardano’s (ADA) blockchain solutions, is convinced that Mr. Schiff is biased:
This is an example of someone who cannot admit they are wrong and who succumbs to an endless cycle of confirmation bias. Peter will find all negative bitcoin news for the next twenty years and publish it. He will ignore all good news. It’s frankly sad, and I feel for him
Cardano ecosystem expands bet on Africa in 2022
As covered by U.Today previously, in the early days of 2022, Mr. Hoskinson shared details of Africa’s most crucial partnership. According to him, Cardano is partnering with the Pezesha company to create a peer-to-peer remittance ecosystem for the unbanked.
The new system will offer the African population incredibly low microfinance rates, starting from 2-4%, which is orders of magnitude lower than existing systems.
Over the past three days, the price of ADA has risen by more than 10%: Cardano’s flagship asset is changing hands at $1.30 on major spot crypto platforms.