Pompliano Challenges Schiff to Five-Year Bitcoin vs Gold Bet
Peter Schiff, an outspoken Bitcoin skeptic, was challenged by Anthony Pompliano to a five-year bet on the cryptocurrency's performance. The wager would see Schiff send Pompliano 1 BTC if Bitcoin outperforms gold over the next five years, and vice versa. However, Schiff expressed reluctance to participate in the bet, stating that he doesn't have any Bitcoin and wouldn't want to 'go unhedged' by buying some now.
Pompliano proposed the friendly wager during an episode of his podcast, Pomp. He noted that while gold has historically outperformed Bitcoin over a five-year period, the tables turn when looking at a four-year timeframe. According to data, Bitcoin has returned +198% over the past four years compared to gold's +135%.
Schiff has a long history of criticizing Bitcoin and has been known to declare it 'dead' multiple times. Pompliano, on the other hand, is an advocate for the cryptocurrency and has previously goaded Schiff into acknowledging that Bitcoin won't literally go to zero.