One Bitcoin now buys 0 6 kilograms of gold as 10-year returns turn negative
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Bitcoin Tops $58k, More Valuable Than A Kilo Of Gold
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Bitcoin Is Fool s Gold, Peter Schiff Says: It s Never Going To Be Money
KEY POINTS
He warned investors against buying Bitcoin, which he claimed has no value
He encouraged investors to instead buy gold as a hedge against inflation
Bitcoin dropping from $41,000 to just above $30,000 gave enough room for some of its biggest detractors to criticize the dominant cryptocurrency and its volatility.
In a recent interview, Peter Schiff, CEO of Euro Pacific Capital, called Bitcoin and cryptocurrency investors fools.
“All Bitcoin is is the latest iteration of fool’s gold and anybody buying it is ultimately a fool,” he told Fox Business “Making Money with Charles Payne,” days after Bitcoin retreated from its new all-time high of $41,940.