Michael Saylor predicts a $13 million bitcoin price, Peter Schiff calls it nonsense.

In a CNBC interview, Michael Saylor predicted a BTC price of $13M; Peter Schiff called this a “nonsense set”. Schiff admitted to Bitcoin and gold in a separate interview.

With gold prices rising and bitcoin falling, Schiff defended what he called “high money.”

Saylor predicts a $13M Bitcoin price in 21 years

Michael Saylor was interviewed on NBC's “Squawk Box” on September 9th, pushing back against the bullish attitude toward Bitcoin. Although the price of Bitcoin rose on the day, Saylor showed this initial trend with generally declining trend lines. “You've got a lot of guts, because there's been a lot of major changes in the past,” host Joe Squawk told Cyler. Asked if he had any major “close calls,” however, Saylor was adamant.

Saylor discusses the lowest point in his Bitcoin journey when Silvergate Bank failed. It sounds like a micro-strategy approach, but “it worked out for us. We've made a lot of money.” MicroStrategy's growth “beats every single company in the S&P index,” he described the recent market similarly. And all that while the price of Bitcoin has been shaky. Saylor says MicroStrategy has mostly turned into a Bitcoin development company since adopting their Bitcoin strategy. Based on this background, he described Bitcoin's greatest strengths, particularly its liquidity and ease of use.Sailor ended up predicting a $13M rise in Bitcoin in 21 years, among other strong Bitcoin statements he made.

Push from Schiff

Stockbroker and financial analyst Peter Schiff, however, continued to take offense. In a social media post, Schiff blasted Sayler's comments as “a bunch of nonsense.” In particular, Saylor found a friendly audience from Squawk Box. MicroStrategy's review went on to note that “it's down 40% from its 52-week high,” and that “returns aren't as rosy as you're making them out to be and it's going to get worse soon.” “All funds have had positive returns since inception,” Schiff added, disproving Saylor's long-term claims.

An overly friendly interviewer, Schiff's complaints are more genuine than they first appear. That morning, Schiff argued that gold is superior on the Bankless podcast. Schiff mentioned Saylor while broadcasting the nearly 2-hour interview, which led to a completely unrelated debate on Bitcoin. On the podcast, however, Schiff found a very receptive audience for his comment that bitcoin lacks gold's “most important aspect…the core value of the commodity.”

Read more: Gold vs. Bitcoin: Recession risk sparks renewed investment debate

Hosts Ryan Sean Adams and David Hoffman were skeptical of Schiff's claim that gold has intrinsic value. “It's a compromise!” Adams said. “People want to store their value in gold!” When Adams polled his peers, he said, “huge” gold jewelry has lost its appeal among young people. Additionally, gold may have practical utility in modern industrial settings, but this is not enough to keep its appeal relevant. A case for iPhone computer chips is all well and good, but nobody is saying we all need to reach the palladium level.

Bitcoin performance fluctuations

Schiff's pro-gold stance has been reinforced by gold's underperformance behind bitcoin, with gold steadily rising while bitcoin has seen declines. However, Bitcoin has seen a surprisingly strong performance since the morning interview, lending credence to Saylor's bullish view.

Still, Schiff's hostility to Saylor's aspect does not equate to absolute hostility to Bitcoin. Although he generally opposes cryptos in his own interviews, Schiff was able to make a hypothetical case when pressed. “People can take refuge in Bitcoin!” he said. Whether it's gold or bitcoin, people are looking for an alternative to mainstream fiat currencies, and bitcoin may end up being the most popular option. Finally, he urged the audience to “hedge your bets by investing in both commodities,” so that “even if Sayler is right, you'll still be rich.”