From the Peter Schiff podcast:
If you remember back in 2013, when they had the crisis in Cyprus...that was really something that helped put bitcoin on the map. That was responsible for a big jump in the price of bitcoin as Cypriots were looking for alternatives to their banking system...
Well, this Russian currency crisis...Russia is a far bigger country than Cyprus, and there's gotta be a lot of Russians out there who are worried about their ruble savings disintegrating. Why aren't Russians buying bitcoins? Why aren't other people buying bitcoins speculating that Russians would buy bitcoins?...
What this shows me is that bitcoins have lost a lot of their appeal. The appeal they had a year and a half ago isn't there anymore.
Chris Rossini is author of Set Money Free: What Every American Needs To Know About The Federal Reserve. Follow @chrisrossini on Twitter.
And honey badger isn't here defending bitcoin anymore.
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