'Where's the Gratitude, Peter Schiff?'

Former Wall Street trader and host of the Keiser Report Max Keiser was leading the backlash against the bitcoin naysayers this weekend as the bitcoin price passed $11,000.

Using Twitter as a platform, Keiser focused on gold enthusiasts after several claimed that despite its performance, bitcoin was still an inferior bet to the precious metal.

Keiser did not accept his words, suggesting Schiff owed bitcoin a debt of gratitude for gold's own gains.

As Cointelegraph reported, a mixture of factors has seen gold make rapid progress in line with bitcoin in recent months.

"Where's the gratitude, Peter? Bitcoin has given Gold a hard money halo; igniting interest in hard money again, driving the price of Gold higher," Keiser responded.

Schiff faced further difficulties when he attempted to disprove bitcoin having intrinsic value.

"The vast majority of gold's price is monetary premium, just like Bitcoin. Industrial use does not protect that premium in any way. The premium is based on suitability as a store of value where Bitcoin excels over even gold."

Schiff was not alone in his lack of faith, with Roy Sebag, founder of precious metals custodian Goldmoney, also claiming bitcoin users did not have an argument over gold.

Schiff's debate with 'The Bitcoin Standard' author, Saifedean Ammous, turned heads when it aired in May, the first in a series of high-stakes encounters for bitcoin proponents.

The coming weeks will see both Warren Buffett and Nouriel Roubini - perhaps the biggest bitcoin naysayers of all - come face to face with cryptocurrency figures.