• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Peter Schiff Claims Bitcoin is Losing Value Against Gold

user avatar

by Giorgi Kostiuk

7 hours ago


Peter Schiff has once again sparked discussion about Bitcoin's real value by comparing it to gold. He argues that many overlook Bitcoin's declining value relative to gold.

Valuation: Bitcoin vs. Gold

Peter Schiff notes that while many assess Bitcoin in dollars, he prefers another gauge — gold. According to his calculations, in 2021, one BTC could purchase 36.3 ounces of gold, whereas today it buys only 27.7 ounces, reflecting a 24% decline.

Gold Market and Future Expectations

Schiff also noted that gold has reached a new level at $3000, and silver has hit $34, approaching its August 2020 record. Schiff believes silver might soon reach a new high and that gold should rise to $4400 to replicate that success. He is confident in gold's dominance, calling it the 'apex predator' of financial assets.

Gold is the apex predator that will eat Bitcoin.Peter Schiff

Eternal Value of Gold and Bitcoin's Prospects

Schiff emphasizes that gold has been around for thousands of years, whereas Bitcoin has been around for just over a decade. He believes history will reveal which assets can truly stand the test of time. Despite supporters viewing Bitcoin as a hedge against inflation and an advanced financial tool, Schiff argues its long-term value is still up for debate.

Schiff's remarks continue the debate over Bitcoin's current and future value compared to traditional assets like gold. He remains confident that gold will retain its key value, despite the popularity of digital assets.

0

Share

Other news

Sacks and Craft Ventures Sell $200M in Digital Assets

David Sacks and Craft Ventures sold over $200M in digital assets, including Bitcoin and Ethereum.

user avatarGiorgi Kostiuk

22 minutes ago

Ripple Labs Resumes RLUSD Issuance to Meet Market Demand

Ripple resumes RLUSD issuance, increasing its supply by 6.5 million units.

user avatarGiorgi Kostiuk

32 minutes ago

David Sacks' Crypto Sell-Off Before Starting White House Role

David Sacks sold $200M in crypto assets before his White House appointment to avoid conflicts of interest.

user avatarGiorgi Kostiuk

39 minutes ago

VanEck Announces Plans to Launch AVAX ETF

VanEck filed for its first AVAX ETF, continuing its efforts in niche investment products.

user avatarGiorgi Kostiuk

39 minutes ago

Ripple Labs Restarts RLUSD Production Confirming Market Confidence

Ripple Labs resumed RLUSD issuance on XRP Ledger and Ethereum after a week pause, introducing 6.5 million tokens.

user avatarGiorgi Kostiuk

42 minutes ago

Minnesota Cryptocurrency Bill: Details and Implications

Minnesota considers a cryptocurrency bill proposing new investment and tax opportunities.

user avatarGiorgi Kostiuk

an hour ago

dapp expert logo
© 2020-2025. DappExpert. All rights reserved.
© 2020-2025. DappExpert. All rights reserved.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.