Peter Schiff thinks Dogecoin could disrupt Bitcoin

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Anthony Pompliano, a renowned entrepreneur and a host of a popular bitcoin podcast, jokingly remarked in his recent tweet that the vocal bitcoin hater Peter Schiff claims that Dogecoin (a popular cryptocurrency) is going to disrupt the first decentralized crypto Bitcoin. Following his tweet, the crypto community got dissected into two groups, one supporting Schiff’s statement and the rest trolling the renowned media personality, investment manager, economist, author, financial broker, and the CEO of Euro Pacific Capital.

In response to Pompliano’s tweet, the CEO of Euro Pacific Capital retweeted in support of his previous statement that Dogecoin has a higher chance of operating as the major cryptocurrency as compared to Bitcoin and that it is a “better bitcoin than bitcoin itself.

 Schiff also criticized Tesla’s CEO Elon Musk for “pumping cryptocurrencies” after his DOGE tweet. In a recent public tweet, Elon Musk called Dogecoin “the people’s crypto”. To this, Schiff, who prefers traditional safe assets like silver and gold—explaining his aversion to cryptos— trolled Elon Musk for putting up such a tweet that got the meme coin going up by 50%.

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Schiff further mentioned that Musk was “late” to the party, i.e. Bitcoin adoption; vouching for Dogecoin would be the best thing to do. Consequently, Musk’s tweets would boost the coin’s  market value. Other crypto enthusiasts also had something to tweet. Binance’s CEO, Changpeng Zhao, tweeted of Dogecoin’s pros and cons. For Zhao, the coin has two major pros: Its “PR manager” Elon Musk,  and its partially decentralized nature.

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David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

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