Influential economist and fierce Bitcoin BTC/USD critic Peter Schiff stated that his pessimism about the leading cryptocurrency may be proven wrong if it becomes a mainstream payment medium.
What happened: During a debate with Jack Mallers, CEO of Bitcoin startup Strike, Schiff indicated that broader adoption of Bitcoin as a payment alternative to existing fiat currencies might change his opinion, starting from something as basic as paying for a dinner at a restaurant with the digital coin.
“I can buy insurance policies, and they have Bitcoin benefits. I pay my premiums in Bitcoin. I get my benefits if rents are in Bitcoin. If everything is expressed in a quantity of satoshi, then I guess I was wrong. You were right. Bitcoin actually became money,”
But in the same breath, the naysayer pointed out that the apex cryptocurrency’s aforementioned use case has been…
