Home>News>Economy>Cryptocurrency>Broker Peter Schiff lost his bitcoins due to a forgotten password

Broker Peter Schiff lost his bitcoins due to a forgotten password

Broker Peter Schiff lost his bitcoins due to a forgotten password

 Economist Peter Schiff reported on Twitter about the loss of access to the electronic wallet, where his cryptocurrencies were stored. According to him, the wallet was compromised and the old password doesn’t work. He also said that he always considered cryptocurrencies a useless invention, but didn’t know how bad this idea was.

     In the next tweet, the broker said that he received assets as a gift, and therefore is not very upset by their loss. He planned to keep cryptocurrencies until the ship with them sank to the bottom, and as a result, “bitcoins drowned before the ship itself.” He also insists that he didn’t forget the password, that the wallet itself stopped accepting it.

    Soon, under the first Twitter message of the broker, cryptocurrency exchange Blockchain.com left a reply with assurances that the assets are safe and Peter can relax.

     Peter Schiff is known for his negative criticism of cryptocurrencies. For example, in November, he compared cryptocurrencies to marijuana, claiming that drugs bring much more benefits. And in 2013, he compared bitcoin to gold. In his opinion, bitcoin has no real value, and the price of bitcoin is explained only by the trust of users in it.

     The economist is not the first to lose his assets due to a forgotten wallet password. Customers of Quadriga CX cryptocurrency exchange in 2019 lost access to digital assets in sum of $145 million after the death of the CEO, since only he had access to the website.

06.06.2021, 05:30
‘Blogger by Day, Trader by Night,’ Binance Runs Advertising Campaign in Major Ukrainian Cities
13.11.2021, 22:30
Visa Executive Says Crypto Is ‘Becoming Cool’ — Sees Whole New Class of Mainstream Consumers Entering the Space
15.11.2021, 21:30
Bitcoin Hashrate Nears All-Time High Captured in May — BTC Mining Rigs Produced in 2016 Still Profitable
04.08.2021, 02:06
Google running crypto ads again as new policy goes into effect
14.05.2021, 11:03
Coinbase Says It Is Targeting More Users, Not Lower Fees
06.10.2021, 01:00
US Bank Launches Cryptocurrency Custody Services Amid Strong Demand From Institutional Clients
03.08.2021, 06:20
Miley Cyrus performs at birthday party for Mike Novogratz’s daughter
09.05.2021, 13:00
The Next Generation of Blockchain Infrastructure is Here