Everybody and his uncle was glued to the screen during the US Open. However, instead of commenting on Roger Federer’s surprising defeat during the semifinals or literally any other captivating event, Pacific Capital CEO Peter Schiff decided to draw a comparison between a tennis ball and (you guessed it) Bitcoin.
According to the multimillionaire gold bug, who is infamous for constantly bashing crypto, BTC has less intrinsic value than a tennis ball. He also added that it would be impossible to make the US Open trophy out of Bitcoin.
Morgan Creek Digital co-founder Anthony Pompliano was quick to respond that precious metals are only used for jewelry and trophies while Bitcoin will fulfill the role of a global currency.