More Than Half Of People Say They Will “HODL BTC To The Grave”

A new poll is in the latest Bitcoin news, showing many that more than half of people (13,000 respondents) are ready to hold their Bitcoins for long, even if the price fails to trade above $10,000. The news are especially oriented towards BTC disbelievers, one of which is the infamous skeptic and gold bug Peter Schiff.

While BTC has many times succeeded in trolling Schiff, we can now see the results of a flash survey on July 14 published by him. With more than 13,000 respondents, the poll asked the question how long BTC/USD should trade at four figures or less in order for them to sell their coins.

This quiz is for Bitcoin HODLers. How much longer does the price of #Bitcoin have to stay below $10,000 before you will throw in the towel and sell?

— Peter Schiff (@PeterSchiff) July 14, 2020

More than half of people, or 60% in this case, responded to the gold bug Peter Schiff, who is well known for his lack of belief in Bitcoin. As he said, “this quiz is for Bitcoin HODLers,” and noted the following:

“How much longer does the price of #Bitcoin have to stay below $10,000 before you will throw in the towel and sell?”

The options offered were four: one year, three years, 10 years and until the investor dies. Of those who replied, “I’m taking it to my grave” was the common choice and had more than half of people or 58% of the 13,000 respondents.

While the result was not something that Schiff wanted, cryptonews enthusiasts and traders proved him wrong one more time. They took it to Twitter showing Schiff how many of them there are, deciding that both BTC/USD and XAU/USD would continue gaining as the latter hit nine-year highs of $1,800.

However, it is a common fact that Twitter surveys are by their nature very unreliable, given their lack of curation and their vulnerability to bias. For instance, more than half people in this survey could well have chosen their preferred option only to prove a point to Schiff.

Also, Schiff himself is suspicious with his motives. Despite his multiple attempts to lambast Bitcoin, he was found to own a small allocation and was vocally disappointed when he lost his wallet password, which is why he made an effort then to regain access. Anyways, Schiff may also be using Bitcoin to promote his gold company, SchiffGold to investors looking for a safe haven asset.