Bitcoiners Blast Peter Schiff For Comment On Michael Saylor's Post Amid BTC Dip

Prominent stockbroker Peter Schiff has been called out by cryptocurrency enthusiasts after he commented on a Tuesday post on X (formerly Twitter) by Bitcoin maximalist Michael Saylor, who urged users to "live strong," along with a kettlebell that has the BTC symbol.

"More like die hard," said Schiff, chairman of gold-specializing precious metals dealer SchiffGold. His comment, even if buried under hundreds of comments from BTC enthusiasts, wasn't missed by some of Saylor's millions of followers on X.

One user called Schiff a "hater," while another warned the stockbroker to be careful of his words since Saylor, MicroStrategy's founder and executive chairman, "could have put his billions in your bank." Schiff owns Euro Pacific Bank, a boutique online bank based in San Juan that has been ordered to liquidate. "Are you describing your bank?" one user asked.

Another user said Schiff shouldn't be greedy since gold is "doing very well" at this point, but BTC "will too." One user recalled that the each "Die Hard" movie had a happy ending.

"What doesn't kill us makes us stronger," another Bitcoin enthusiast noted.

In the "Die Hard" movie series, protagonist John McClane always finds himself in a sticky situation or a crisis that ultimately puts him on the verge of death. On the other hand, McClane always found a way out in the end.

Schiff's comment on Saylor's post came on the day Bitcoin plunged to $60,000 and Changpeng "CZ" Zhao, the founder and ex-CEO of crypto exchange giant Binance, was sentenced to four months in prison over his failure to establish AML/CFT guardrails for the exchange's many customers.

This isn't the first time Schiff had a sarcastic tone toward Bitcoin. Earlier last month, he said "hodlers," or crypto holders who refuse to sell their digital assets regardless of market sentiment, have their "last" chance to sell their Bitcoins and put their money into gold and silver. "If you fail to act, have fun staying poor," he said. On the day of his post, BTC prices lodged a high of nearly $69,200.

On April 25, Schiff said it's "not looking good" for Bitcoin hodlers. "You need to hope Bitcoin can hold $60K." On that day, BTC prices were at $64,000 and Saylor was challenged by some crypto holders to "pump" the digital currency's price to $100,000. Schiff also noted that while "hardcore" Bitcoiners are pretty much used to significant dips over the years, newbie owners "are in for a rude awakening."

Finally, Schiff said late Tuesday that Bitcoin prices are now within the danger zone. Seemingly pointing to his comment under Saylor's post, he said Bitcoiners are currently at a "do or die" moment in time.