Peter Schiff, the well-known Bitcoin critic, has once again expressed his skepticism about the cryptocurrency. He pointed out that due to recent quantitative easing (QE) measures, the prices of gold and silver have soared, with gold trading above $4325 and silver above $64.20. In contrast, Bitcoin has not seen similar growth and has instead fallen along with risk assets.
*Key Points:*
- *Gold and Silver Prices:* Gold is currently trading at $4311.73 per ounce, up 0.7%, while silver is at $63.87 per ounce, up 0.5%.
- *Bitcoin Price:* Bitcoin is currently valued at $90,305.73, down 2.30% in the past 24 hours.
- *Schiff's Critique:* Schiff believes that if Bitcoin is truly “digital gold,” it should benefit from the quantitative easing measures, but instead, it is moving in the opposite direction, indicating its weakness as a safe-haven asset.
Schiff's comments highlight the ongoing debate about Bitcoin's role as a store of value and its comparison with traditional assets like gold and silver.
$BTC
{spot}(BTCUSDT)