Peter Schiff: "There's just no demand for bitcoin"

According to the economist, the fall in the bitcoin rate completely contradicts the opinion about the interest of institutional investors in the cryptocurrency:

"Pampers blame the exchange MtGox's payouts to depositors for the rate sag. This is partly true, but otherwise the liquidation exposes the myth of institutional demand for bitcoins. If there were, buyers would have already jumped at the chance to purchase MtGox bitcoins on the market."
The drawdown in the value of the first cryptocurrency is one of the largest in the past few years, and a further correction in the exchange rate is likely, the cryptoprospect is confident.
Earlier, Peter Schiff criticized the Bitcoin network for slow speed and high cost of transactions, and the coin called completely unviable.