It's "Pretty Obvious" That XRP Is a Security, Says Bitcoin Hater Peter Schiff

[Rain075]

On a recent podcast with Liz Claman, the Host of FOX Business Network's The Claman Countdown, Euro Pacific Capital CEO and Bitcoin nemesis Peter Schiff opined that it is "pretty obvious" that XRP, the fifth-largest cryptocurrency associated with Ripple, is actually a security as the U.S. Securities and Exchange Commission alleges:

I think it's pretty obvious that Ripple is a security because all Ripple tokens are issued by Ripple Labs Inc, and then Ripple Labs goes out there and does things to try to create value for those tokens.

Moreover, Schiff, without any evidence, claims that the SEC is going to go after Bitcoin as well:

They are not saying it's not like Bitcoin. They are saying it's a security. They had to be registered and they've been selling unregistered securities. Now, I believe that the SEC, ultimately, will make the same allegations against Bitcoin…It's not really a commodity.

However, it is worth noting that the regulatory watchdog has already clarified that Bitcoin is not a security:
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