Famous Bitcoin (BTC) opponent Peter Schiff responded to Twitter CEO Jack Dorsey’s tweet about hyperinflation.
Dorsey took to Twitter to talk about hyperinflation and the current US economic situation. Dorsey stated that there will be inflation in both the United States and the rest of the world.
Schiff thinks that if hyperinflation comes, Bitcoin will not do well. Schiff thinks that only “real entities” can survive hyperinflation.
Schiff later compared Bitcoin to children’s imaginary friends and described it as a “credible asset”. He said that the concept of imaginary friends was adapted for adults.
Schiff also added that gold can be used in many industries and that Bitcoin cannot beat gold.