Peter Schiff says he understands bitcoin much better than the ‘HODL gang’ – Bitcoin (BTC/USD)

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Gold bull Peter Schiff recently took to Twitter to point out that the Bitcoin BTC/USD “HODL gang” often accuses him of not understanding BTC.

What happened: Schiff says he actually understands Bitcoin much better than those who own it, and that’s why he’s not in this group.

Crypto investors quickly adopted HODL as an acronym for “Hold On for Dear Life,” a rallying cry for those who choose not to sell during bear markets.

Stephen Livera, a prominent Bitcoin Bull, replied, “No, you really don’t understand.”

“You were skeptical of Bitcoin at $17.50, so you can only justify a victory lap when it drops below $17.50. There is no better technology or movement that will advance the freedom more than Bitcoin,” he said.

See more: Best Crypto Day Trading Strategies

Another Bitcoin Bull William Cooper Said I Think That’s Just Understanding[ing] which brings in a lot of money, not so much the technology. I don’t understand why you don’t think bitcoin makes a lot of money. Even if you don’t like bitcoin, I think you make a good point regardless.

Earlier this week, Schiff launched a fierce debate over Bitcoin maximalist Michael Saylor adding BTC to MicroStrategy’s MSTR balance sheet. Schiff said it was a “Hail Mary” move meant to prevent the company from collapsing. On the other hand, Bitcoin proponents countered that the decision to hold Bitcoin in a wallet was a smart one.

Price Action: At the time of writing, Bitcoin was trading at $16,842, up 0.02% in the past 24 hours, according to data from Benzinga Pro.

Read next: Bitcoin, Ethereum muted, Dogecoin spikes: No sign of ‘Santa Claus’ rally as analyst says tech rout behind risk-free mood

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