Peter Schiff: China’s Gold Backed Crypto is better than Bitcoin

With the launch of china’s gold-backed cryptocurrency, Peter Schiff a known advocate for precious metals especially gold claim that China’s crypto will pull bitcoin price down. though Peter is a known critic of Bitcoin. Schiff had always stressed to prove bitcoin lower to gold, many of their predictions become a hoax. Recently he gave the statement indicating that Bitcoin as “backed by nothing”

Source: TheCoinRepublic