A well-known critic of cryptocurrencies, Peter Schiff, recently made a tweet comparing the rise in gold prices to Bitcoin. He humorously pointed out that Bitcoin would need to increase by $23,000 to match gold's recent gains of $25, predicting that Bitcoin could reach $94,000 soon.

Schiff's remarks sparked discussions about the value and function of gold versus Bitcoin as assets for hedging inflation and storing value.

Mixed Reactions from the Community

Schiff's comments elicited varied responses from the crypto community. While some saw his remarks as a prediction of Bitcoin reaching $94,000, others remained skeptical. One crypto enthusiast even suggested that Bitcoin might surpass $100,000 in the future.

However, not all feedback was positive, as some users criticized Schiff's track record of being inaccurate in his predictions about Bitcoin.

Bitcoin Price Trend

Despite the playful nature of Schiff's comments, they highlight Bitcoin's impressive price surge in recent times. Bitcoin hit an all-time high of $73,750 in mid-March, mainly due to the success of spot Bitcoin exchange-traded funds.

Currently trading at $69,821, Bitcoin experienced a slight decline of 1.15% in the last 24 hours. Nonetheless, trading volume surged significantly, increasing by 50.2% to $26.37 billion.