Gold vs Bitcoin 2020
Since the beginning of 2020 crypto community has been discussing an opportunity for Bitcoin to become a safe haven. These discussions also raised a question of BTC being a store of value. A lot of people participate in this dispute every day and Peter Schiff is one of them.
Peter Schiff comments a lot about cryptocurrency and is known as a big crypto skeptic. He is an economist, financial commentator, CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer, a founder of Euro Pacific Canada Inc., a founder and chairman of Euro Pacific Bank, a founder, CEO, and chairman of Euro Pacific Asset Management, LLC, and founder and chairman of SchiffGold.
From his track record, we can see that cryptocurrency is not his main interest. His main line in cryptocurrency talks is comparing gold with Bitcoin in terms of being a store of value.
Recently on his Twitter Peter Schiff made a Bitcoin price prediction. He shared his opinion about the future fall of Bitcoin price:
“Over the past several years Bitcoin holders poked fun at gold investors because Bitcoin gained so much more than gold. Over the next several years those roles will reverse, but not because gold rises more than Bitcoin, but because gold moons as Bitcoin crashes back to earth.”
Crypto community is usually quite sarcastic about predictions of BTC price like this one, and Peter Schiff’s remark was not an exception.
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