Renowned gold bull and Bitcoin critic Peter Schiff has taken a dig at Sequoia Holding LLC, a software development and engineering company who recently announced that it will start paying its employees in Bitcoin (BTC). Peter Schiff has criticized the scheme, calling it is an attempt to “Sucker in buyers” amid the ongoing dip experienced by the cryptocurrency.
Bitcoin has been seeing a huge price retracement that suggests that the bull run it had sustained since the end of last year is coming to an end. At the time of writing, BTC is trading at a price of around $30,855.31, representing a 10.79% drop over the past 24 hours, and an overall loss of 19.63% on a seven-day period, according to CoinMarketCap. The bearish downtrend of the cryptocurrency has rubbed off on the entire crypto market. Currently, the sector’s market cap has once again dipped below $1 trillion.
Gold bull Peter Schiff had always faulted Bitcoin, saying it is a Ponzi Scheme whose frequent price runs form an…