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    Home»Bitcoin»Peter Schiff Warns Michael Saylor About What Will 'Eat Bitcoin'
    Peter Schiff Warns Michael Saylor About What Will 'Eat Bitcoin'
    Bitcoin

    Peter Schiff Warns Michael Saylor About What Will 'Eat Bitcoin'

    By Crypto EditorMarch 16, 2025No Comments3 Mins Read
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    You realize that Peter Schiff likes to make a press release about Bitcoin that sparks a debate, and immediately was no exception. The monetary skilled took to X to put out a case that he says has been unfolding proper below everybody’s nostril: Bitcoin (BTC) has been in a bear marketplace for years, however few have seen as a result of they’ve been measuring it the improper method.

    Schiff didn’t speak about Bitcoin when it comes to {dollars}, as most do. As a substitute, he checked out its worth towards gold, an asset he has lengthy championed as the final word type of cash. 

    Associated

    Peter Schiff Warns Michael Saylor About What Will 'Eat Bitcoin'

    Again in 2021, at Bitcoin’s peak, one BTC may purchase 36.3 ounces of gold. Quick ahead to immediately, and that very same BTC is value 27.7 ounces of gold – a 24% decline, Schiff reveals.

    Gold is above $3,000 for the primary time. Silver is above $34, nevertheless it’s nonetheless under its Aug. 2020 excessive of $35.08. I believe it takes that top out subsequent week. If that’s the case, I believe it hits a document excessive above $50 earlier than year-end. Gold would want to hit $4,400 to match that acquire. Purchase silver.

    — Peter Schiff (@PeterSchiff) March 14, 2025

    In different phrases, if gold is the benchmark, Bitcoin has been shedding floor for years, regardless of the volatility and value spikes that always dominate the headlines.

    Gold over Bitcoin for Peter Schiff

    However for Schiff, this isn’t nearly Bitcoin’s decline relative to gold – it’s about gold’s continued dominance. In his view, gold stays the “apex predator” of economic belongings, the true retailer of worth that may finally outlast digital opponents like Bitcoin. 

    Article image
    Supply: TradingView

    He directed this specific thought to Michael Saylor, CEO of Technique (previously referred to as MicroStrategy) and probably the most vocal proponents of cryptocurrency. 

    The argument is straightforward: gold has been round for hundreds of years, Bitcoin has been round for a little bit over a decade, and historical past has a method of proving which belongings can really stand the take a look at of time.

    Associated

    Bitcoin Critical to American Nation's Prosperity: Michael Saylor

    Schiff’s newest feedback come at a time when Bitcoin continues to divide opinion. 

    Whereas its supporters keep that it’s a hedge towards inflation and a revolutionary monetary instrument, skeptics like Schiff consider that its long-term worth proposition continues to be up for debate and that BTC is extra like a beta to tech shares and a extremely dangerous asset.





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