Politicians based in Latin America continue to support bitcoin, with the latest example coming from the advisor of the Colombian President. Jehudi Castro Sierra, who has been a vocal Bitcoiner for a while, recently told permanent BTC basher Peter Schiff to short the asset and “shut up.”
Peter Schiff Being Peter Schiff
Anyone who is remotely interested in the cryptocurrency space knows about the hate-hate relationship between the community and Peter Schiff. The prominent economist and gold bug is among the most vocal Bitcoin critiques, with countless examples of going after the asset.
While he was untypically silent during the bull market in which the cryptocurrency was riding towards new highs monthly, he has resumed the bashing fest as BTC slipped by 50% from its mid-April peak.
In one of the recent examples, Schiff questioned MicroStrategy’s BTC endeavors as the NASDAQ-listed business intelligence giant plans to sell Senior Secured Notes to allocated another half a billion in bitcoin.
I don’t think @michael_saylor is familiar with Murphy’s Law. What if #Bitcoin crashes below $20K? Will #MicroStrategy sell stock at depressed prices to shore up its balance sheet? Will it sell Bitcoin to raise cash? If MicroStrategy goes bankrupt will creditors HODL its Bitcoin?
— Peter Schiff (@PeterSchiff) June 8, 2021
What gathered most people’s attention, though, was Schiff’s “objective look” at a long-term BTC chart, leading to “conclude that before Bitcoin can make a new high, the price will likely collapse near the yellow lines I’ve drawn.” For reference, these yellow lines are situated between $20,000 and $5,000.
While presenting yet another doomsday scenario to the BTC investors, Schiff ironically added, “have fun HODLing!”
Shut Up and Short BTC
During the years of constant bashing, Schiff has attracted the attention of the entire community. Numerous notable proponents have rushed to argue with the economist over the years with little-to-no effect on his conviction.
Interestingly, though, the latest to go against Schiff was the advisor of Colombia’s President – Jehudi Castro Sierra. He emphatically replied to Schiff’s tweet with “short it and stop talking.”
Short it and stop talking.
— Jehudi 🇨🇴 (@JCastroS) June 8, 2021
Castro Sierra has displayed his support towards the primary cryptocurrency for a while, including agreeing with Jack Dorsey’s views that BTC could ultimately make the world greener.
Interestingly, Bitcoin is continuously growing in acceptance in Latin America. Apart from other politicians expressing support as well, El Salvador officially made the asset a legal tender in the country – the first nation to do so.