Bitcoin (BTC) skeptic Peter Schiff has admitted that holding the cryptocurrency is profitable — simply claims information technology will "never" compete with fiat currency.

In a tweet on Feb. 18, Schiff, well known equally a vehement Bitcoin critic and longtime gilded bug, "conceded" that the cryptocurrency in the past ten years had been a successful investment.

Schiff: BTC investors "make a lot of coin"

"I concede that anyone who bought #Bitcoin 10 years ago and sells it today volition make a lot of coin," he wrote.

"Merely I never said the price of Bitcoin could not rise. I only said that Bitcoin would never succeed as money. Nothing that has happened over the past x years has proven me incorrect!"

Having recovered the wallet password that he causeless he had lost, Schiff is now once again the possessor of around 0.4 BTC, the result of a donation campaign that sought to endear him to its benefits final year.

While the anti-Bitcoin rhetoric has since continued, Schiff appeared noticeably angered during the time that he thought his holdings were lost forever.

His latest complaint, as before, meanwhile received picayune sympathy among Twitter users. Bitcoin-friendly travel amanuensis, TravelbyBit, was amid the responses.

"#Bitcoin has succeeded as money," the company wrote.

Schiff additionally said that RT host Max Keiser had refused to debate with him on this weekend's episode of news review show Infowars. As Cointelegraph reported, Keiser used the opportunity to "officially" change his Bitcoin price outlook from $100,000 to $400,000.

Chirapsia gold at its own game

Every bit Saifedean Ammous noted in his popular book, "The Bitcoin Standard," in terms of technical characteristics, Bitcoin does not merely possess the 3 fundamental attributes required of coin but does then considerably more finer than fiat.

Its stock-still supply, impossible to dispense, gives ascent to the description of Bitcoin as "digital golden," something Schiff has long failed to refute.

The idea that Bitcoin could soon usurp the marketplace cap of the world's entire physical gold reserves remains a hot topic of debate.