Bitcoin Outperforms S&P 500 Post ETF Debut, Analyst Counters Peter Schiff's Argument

Nate Geraci, president of NovaDius Wealth Management, has challenged Peter Schiff's recent criticism of Bitcoin, stating that the cryptocurrency has been outperforming the S&P 500. This comes after Schiff, a well-known Bitcoin skeptic, declared the cryptocurrency as one of the "worst performing assets" on Wall Street. Geraci disputes this, pointing out that Bitcoin has seen about a 90% increase since ETFs were introduced, compared to less than a 50% gain in the broader stock market. Meanwhile, a report from Santiment shows a shift in market dynamics with investors leaning towards precious metals due to increasing global uncertainty. Despite Bitcoin's recent 16% drop, institutional investors have consistently been accumulating crypto since late November of last year.