Schiff: Bitcoin resembles tulip bubble <\/p>\n
The Winklevoss twins call bitcoin \"gold 2.0,\" but longtime gold investor Peter Schiff laughs at the comparision. With CNBC's Jackie DeAngelis and the \"Futures Now\" traders. <\/p>\n
To be sure, the partnership does not mean that Euro Pacific is taking any direct position in bitcoin. BitPay converts the bitcoins from customers into the U.S. dollars in which Euro Pacific will be paid.<\/p>\n
\"It's a means of payment that allows us to complete the equivalent of credit card transactions, but with a much more efficient process and with a much lower fee,\" said Michael Finger, director of marketing at Euro Pacific. \"Bitcoin facilitates the process, but we're not speculating on bitcoin in any way.\" <\/p>\n
But it's more than a mere marriage of convenience. For Finger, bitcoin investors make for natural gold investors. <\/p>\n
\"A lot of people in bitcoin are hard money advocates. They know a lot about money, and monetary policy,\" Finger said. And if they have made a lot of money in bitcoin, there's a good chance they'd like to \"put it into gold and silver, and not cash.\" <\/p>\n
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Bitcoin hater Schiff now selling gold for bitcoins<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Schiff: Bitcoin resembles tulip bubble The Winklevoss twins call bitcoin \"gold 2.0,\" but longtime gold investor Peter Schiff laughs at the comparision. With CNBC's Jackie DeAngelis and the \"Futures Now\" traders Continue reading