Peter Schiff embarrasses discussing Kim Kardashian, accuses M. Thaler

This might be Peter Schiff’s weirdest take. While commenting on Kim Kardashian’s recent deal with the SEC, the gold bug fired at the “real pumpers”…Michael Saylor?and…CNBC? Did Peter Schiff and his team even do basic research into Kim Kardashian’s case, or is he just pretending to be stupid, attacking perceived enemies and making the water murky?Peter Schiff Let’s hope it’s his second option.

SEC fined @Kim Kardashian $1.2 million for pumping #CryptWhat about real pumps? @sailor Had a lot more to get pumping crypto than Kim. @CNBC Paid Millions For Advertising By Crypto Firms, Then Pumped #bitcoin Non-stop while providing airtime for industry pumpers?

— Peter Schiff (@PeterSchiff) October 3, 2022

Here are Peter Schiff’s exact words: What about real pumps? Thaler had a lot more to get pumping crypto than Kim. Are you pumping bitcoin at the stop?” Wow. When newcomers to the space mix bitcoin and cryptocurrencies, it is often an honest mistake. But Peter Schiff writes about Bitcoin every day. Is he out of the loop? Or does he have hidden intentions?

What is Peter Schiff talking about?

at first, Kim Kardashian reconciled to the SEC for $1.2 million. The accusation specifically related to an alleged scam he called EthereumMax. Apparently, she did not disclose the payment she received for the promotion. Additionally, the socialite has agreed to stop promoting “crypto securities” for the next three years and to cooperate with the SEC’s ongoing investigation.

Roughly speaking, that’s what it is. It has nothing to do with Bitcoin or Thaler. And it is certain that CNBC has disclosed all payments received for cryptocurrency ads. So what is Peter Schiff talking about?

BTC price chart for 04/10/2022 on FX | Source: BTC/USD on TradingView.com

Michael Thaler fights back

Mastermind at MicroStrategy answered The basic lesson is that “Bitcoin is a commodity, not a security. Promoting a commodity is like promoting steel, aluminum, concrete, glass, or granite. The BTC network is an open protocol. Yes, it offers practical advantages similar to road, rail, radio, telephone, television, internet or English.” This should be common sense, but it isn’t. But a self-proclaimed expert like Peter Schiff should know all about it. It’s literally his job.

#bitcoin It’s a commodity, not a security. Advertising a product is like advertising steel, aluminum, concrete, glass, or granite. The BTC network is an open protocol and offers practical advantages similar to road, rail, radio, telephone, television, internet or English.

— Michael Saylor ⚡️ (@saylor) October 3, 2022

Note that Thaler does not mention gold, Peter Schiff’s Bread and Butter. I answered. I do not sell my own gold. I sell retail and buy wholesale on behalf of my customers. Also, my gold endorsement does not affect its price. Is he implying that Thaler will sell his bitcoin and move the market with his tweets? Because those are two lies.

I recommend #Money Not the Same as Bitcoin Owners Trying to Sell Pumping #bitcoinI do not sell gold that I own. I sell retail and buy wholesale on behalf of my customers.Also my gold advocacy does not affect its price

— Peter Schiff (@PeterSchiff) October 3, 2022

In reality, Bitcoin is a commodity, not a security. it’s not an opinion. Here is the SEC’s official position on the matter.

Additionally, Saylor was not paid by a third party. Bitcoin is really decentralized, with no marketing budget, much less an owner.

Bitcoin is not crypto. Peter Schiff should know that.

Featured Image: Peter Schiff screenshot from his site | Charts by TradingView

Money can’t buy the popularity that Bitcoin brought to MicroStrategy. They “can’t really ignore us,” Thaler said. Bitcoin has been a “marketing and sales gain” and a “net plus” for the company. In fact, he sees it as “a screaming home run for shareholders.”