While many financial experts and cryptocurrency investors bitcoin-news/bitcoin-to-surpass-gold-silver/” rel=”nofollow noopener” target=”_blank”>believe that bitcoin could potentially surpass gold as universal store of valuerenowned economist and global strategist, Peter Schiff has consistently contrasted btc's potential with that of gold, stating that the cryptocurrency pales in comparison.
Schiff defends gold over bitcoin
In a series of posts from x (formerly twitter), Schiff deepen your posture bitcoin/peter-schiff-warns-investors-from-bitcoin-says-they-should-buy-this-instead/” rel=”nofollow noopener” target=”_blank”>defend gold as a better investment alternative to bitcoin, the largest cryptocurrency in the world. The financial economist also revealed a notable disparity in the bitcoin price compared to gold.
According to Schiff, btc recently x.com/peterschiff/status/1775000459851215167?s=46″ rel=”nofollow” target=”_blank”>experienced a price decrease of more than $3000 in “10 minutes”, indicating a 4.5% decrease in its overall price value. He claimed that this decline would be equivalent to a $100 drop in gold over the same time period.
While highlighting The fall of the btc priceSchiff revealed that gold was outperforming, demonstrating a modest rebound and preparing for further gains. bitcoin/bitcoin-isnt-digital-gold/” rel=”nofollow noopener” target=”_blank”>The Economist also x.com/peterschiff/status/1774775495583744127?s=46″ rel=”nofollow” target=”_blank”>emphasized a lack of transparency on platforms like CNBC, alleging that the business channel was a “paid bitcoin promoter.”
He revealed that CNBC had “once again” ignored gold’s recent record, claiming that the network was in the business of promoting bitcoin/goldman-bitcoin-is-world-best-performing/” rel=”nofollow noopener” target=”_blank”>btc, possibly contributing to its price increase. Furthermore, Schiff revealed that the failure of the bitcoin/gold ratio to reach an all-time high underlines bitcoin/why-goldman-sachs-expects-this-asset-class-to-outperform-bitcoin/” rel=”nofollow noopener” target=”_blank”>bitcoin's limited potential compared to gold.
The renowned economist x.com/peterschiff/status/1774468467917193625?s=46″ rel=”nofollow” target=”_blank”>argument that bitcoin's inability to reach a new high relative to gold undermines its argument for being a digital goldpotentially hinting that the cryptocurrency is not fit to serve as the latest in digital store of value. He has always praised the value and potential of gold, x.com/peterschiff/status/1774647068931375612?s=46″ rel=”nofollow” target=”_blank”>revealing As of early April 1, the precious metal was poised for significant returns, which could catch investors and banks off guard.
Financial expert says buy more btc
while schiff discourages members of the crypto community from investing in bitcoinRobert Kiyosaki, author of the best-seller 'Rich Dad, Poor Dad', has x.com/therealkiyosaki/status/1773568731635200395?s=46″ rel=”nofollow” target=”_blank”>urged investors and cryptocurrency enthusiasts to acquire the valuable digital asset.
In a recent x post, Kiyosaki advised the broader crypto community to buy real assets. bitcoin, highlighting the lack of value of fiat currencies such as the dollar and the Chinese yen. The financial author's perspective on btc clearly contrasts with that of Schiff, who has constantly criticized cryptocurrency and undermined its value relative to gold.
Despite the rivalry between the two valuable assets, the current price of bitcoin remains high at $66,537, while the price of gold has risen to $2,261.
x/cZlojswv/” alt=”Tradingview.com bitcoin Price Chart” width=”3286″ height=”1530″/>
btc price crashes down to $65,500 | Source: BTCUSD on Tradingview.com
Featured image of Finbold, chart from Tradingview.com
