The world’s largest gold and silver trading companies to accept bitcoin payments

The world’s largest gold and silver trading companies to accept bitcoin payments

European Pacific precious metals company – the world’s largest gold and silver trading company, announced today that would work with the BitPay to accept bitcoin payments.

The company’s founder Peter Schiff is famous for the financial figures, many popular radio programs are called Peter financial Schiff show and bitcoin black. The company is expected to accept bitcoin, or caused no small repercussions in the bitcoin community, many optimists think Peter Schiff has changed its stance towards digital currency.

However, in an interview with the CoinDesk, Schiff claims to accept bitcoin payments is the strategic direction of the company, rather than recognize bitcoin itself.

Schiff told CoinDesk that he decided to accept bitcoin, but does not mean that he changed his view, not only for the present, accept bitcoin is a good profit opportunity, can attract a large number of coins customers.

Schiff reiterated that he is still bitcoin and other alternative currency skeptics, his company’s move is aimed at dealing with bitcoin market adverse, to accept bitcoin payments will be able to attract those who hold but worry about bitcoin prices rose to customers.

The price will fall

Schiff told CoinDesk that he personally believes that bitcoin prices will fall, and investors will be wise to be part of their holdings of bitcoin convertible into gold or silver. For example, Mt.Gox triggered by the collapse of bitcoin fell, investors may worry that prices will fall further, investors may pay attention to should diversify their investment assets to spread risk.

In addition, Schiff also claimed that silver is a better choice, he expects the price of silver will rise from the current $19 to $50.

He regretted not buying bitcoin

Schiff said that in early 2013 he came to the attention of digital currency, he regretted not taking the opportunity to invest in bitcoins. But he also said it is not now or in the future will invest in a digital currency on his behalf.
He went on to explain that his company could not hold any bitcoin. He said that they only accept dollars, do not accept bitcoin, accept bitcoin just BitPay.

Schiff adds one reason of this view is different, he can not understand other digital currency bitcoin and widely exist on the market.

He is considering to launch its own currency

Schiff told CoinDesk that, although he looked down bitcoin potential, but he also support similar digital currency projects, such as NoFiatCoin, use gold and silver as a digital currency endorsement.

However, he also said that he is not sure whether the final process caused him to abandon this idea. Because of this kind of projects will be costly, he did not confirm how much money he can, due to the gold and silver and gold and silver hook, but the number of concrete is difficult to verify.

However, Schiff believes that as an application technology, bitcoin is still quite promising, although he did not think the investment bitcoin is wise, or one day the government will launch a digital currency is backed by assets.

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