While his electrical car visitor announced a Bitcoin buy weeks ago, Elon Musk finally became a true Bitcoiner last nighttime by engaging in a time-honored cryptoTwitter pastime: dunking on Peter Schiff.

Yesterday morning Schiff, the noted gold issues and Bitcoin skeptic, posted a Tweet thread in which he criticized Elon Musk's annotate that Bitcoin is a flawed currency, though notwithstanding better than fiat alternatives:

Schiff noted that, "as an engineer" the Tesla founder should know the departure between a "tangible element" and a "cord of numbers," and said that gold has greater utility relative to Bitcoin.

"Money isn't data. Data can represent coin simply tin can't replace information technology. Money improved barter, gold improved coin, and data improved #gold. Bitcoin is a render to barter. All sellers will accept money. With #Bitcoin you must observe a seller who has what you lot want and wants what y'all have," Schiff concluded.

In response, the Tesla founder criticized Schiff's view of tertiary-political party gilt storage as an additional layer of trust, maxim he "might as well have crypto."

Considering how flippant Musk has been in promoting the Dogecoin meme currency, he also hedged his statement with a perchance surprising follow-up, warning that prices for Bitcoin and Ether are "loftier."

While tempered, the Twitter statements are just the latest vote of conviction the earth's richest homo has put into cryptocurrencies. Earlier this month Tesla used seven.7% of gross cash on hand to purchase Bitcoin, a sum worth $one.5 billion, and later followed up past saying "only a fool" wouldn't seek investments beyond fiat.

Schiff, meanwhile, continues to be a punching bag so universal that fifty-fifty shawarma restaurants get in on the fun. While he's recently admitted that Bitcoin isn't the scam he one time defendant it of being, he remains resolutely in favor of physical bullion as an investment. His Twitter trash-talking carries on even as his bank remains under investigation.