Bitcoin Adversary Peter Schiff Makes Comparison between BTC and Gold Once More

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by Giorgi Kostiuk

3 years ago

Made with AI

Renowned gold supporter Peter Schiff, recognized for his critical stance towards Bitcoin, consistently draws parallels between BTC and gold.

The prominent figure, known for his disapproval of BTC, recently mentioned in a post on his X account that despite Bitcoin reaching a new high in terms of the dollar, it fell short of achieving a new high compared to gold.

Schiff stated: “Although Bitcoin saw a new surge in the dollar, it failed to reach a new high against gold. This situation casts doubt on the claim that Bitcoin is the digital version of gold."

Following this statement, he directed his attention to Bitcoin enthusiasts who perceived gold's increase as insignificant and highlighted that the 3% growth in gold over the past two days was equivalent to a total market value of around $450 billion.

Schiff later asserted that Bitcoin would need to climb to $94,000 to witness a similar upward momentum against the dollar.

The Bitcoin community contended that Peter Schiff's mention of $94,000 as the Bitcoin-gold price was a projection for BTC's value in the near future.

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