SchiffGold, is a company managed by Peter Schiff, currently one of the largest international precious metal dealers who as early this year started to accept Bitcoin. Formally branded as Euro Pacific Precious Metals, SchiffGold along Amagi Metals and Digital Tangible became the most reputable Precious Metal dealers to first integrate Bitcoin as payment for Gold and Silver Bullions.
The Company specializes in dealing high-quality bullion coins and bars always providing the best options and lower fess in the market as well offering the right price for their customers.
Peter Schiff started SchiffGold to provide precious metals investors with a trustworthy and affordable way to buy physical gold and silver. He believes his clients should have the opportunity to choose between the best low prices allied to quality service. So whether investors are buying a bar of gold, a thousand silver rounds, or are just looking for information, the Company’s Precious Metals Specialists will most certainly provide the best individual approach.
Schiff has been very supportive with what digital currencies are trying to achieve, and believes in a digital currency that cannot be manipulated like fiat money. He says Bitcoins are mined, which in a way is very similar to physical gold that indeed is scarce and divisible as so is Bitcoin; Although Bitcoin could well have already hit the top, he is confident that gold is still well below its future value and so as Bitcoin.
The Company CEO firmly stated that Bitcoin integration soon attracted new precious metal investors willing to invest in precious metals and with it try to diversify their portfolio and mostly to avoid Bitcoin volatility. It might as well become a new way to diversify gold holdings and eventually takes 1/2 of the current market cap from gold.
Schiff says he saw an opportunity within the Bitcoin properties; decentralization, faster transactions and lower fees seemed to be the key holding the real value and true nature of bitcoin, and this could well raise some financial benefits both for dealers as for investors.
In order to accept the digital currency, the Company started a partnership with Bitpay, one of the most popular and secure payment processors.
SchiffGold position over Bitcoin
The whole idea behind Bitcoins was to digitally replicate gold, kind of a gold standard for the internet; when you look at Bitcoin, the way they came into existence is that they are mined, just like actual gold. You mine them into existence, and just like mining gold, when you mine bitcoins, you actually extend recourses, real energy; there is an actual cost associated with creating a bitcoin just like there is with gold, in contrast to Central Banks that create pretty much limitless amounts of currency, at virtually no cost. And also like gold, there is a limit; there is a scarcity, in that they are only pointing to only 21 Million Bitcoin that can be mined into existence. And again, Bitcoin is also divisible, like gold so bitcoin can be broken into smaller fragments just like gold. You can make smaller quantities that are ideal to smaller transactions. But unlike gold you can send instantaneously your bitcoin through the internet and with gold you cant do that.
SchiffGold’s Precious Metals Specialists are trustworthy and knowledgeable advisors who understand and share Peter Schiff’s investment philosophy. We believe passionately in the importance of sound money and take pride in helping customers secure their financial future against a global currency crisis.
Offering customers an easy way to invest in precious metals at low prices is of utmost importance to us. Our Specialists are more than happy to explain the different products available, and make recommendations that suit your personal needs.
Everyday we see more and more global companies like Microsoft starting to accept Bitcoin. It is a clear sign that digital currency has been gaining a lot of confidence and that it is truly a technological inevitability.
Given the immense potential of Bitcoin, considered by many as digital Gold, precious metal dealers have been depositing great confidence in bitcoin as a 21st Century currency, and currently with confidence levels in a constant rise many more dealers will most certainly follow.
What do you think about SchiffGold accepting Bitcoin and also about BitPay bringing another company into the industry?