Noted bitcoin critic Peter Schiff has not directly accepted bitcoin as an investment for gold but has explained the acceptance of bitcoin indirectly through a third party, Bitpay.

Bitpay is on it's way

Bitpay is a popular crypto payment processor from the US that provides transaction service for a 1% fee. It uses 150 national fiat currencies. Bitpay has provided its proof of reserve for its users to build trust among them.

Bitcoin Volatile is not a big deal

The recent new drop in the value of bitcoin, however, is not so great that it can be considered a big dip. This is a $23k to $24k position, but some investors are currently trying to convert their bitcoin holdings to gold, or buy the dip in BTC 

Business is Business 

Schiff's statement is a big disclosure on the trading of gold and bitcoin. People can sell Bitcoin and buy gold, or sell gold to buy Bitcoin, using this system.