Renowned economist and BTC critic Peter Schiff has boldly claimed that Bitcoin is nothing like gold and went on to explain why he thinks so. His latest criticism of the flagship crypto comes amid JPMorgan’s prediction that BTC will outperform the precious metal. Peter Schiff Says Bitcoin Is The Opposite Of Gold In an X post, the market expert asserted that Bitcoin is nothing similar to gold despite BTC’s tagline as ‘digital gold.’ He explained that BTC rallied with other risk assets as investors’ recession and inflation fears subsided. As such, he believes that the flagship crypto isn’t a haven, unlike gold, which typically surges when macro fundamentals are negative. However, contrary to Schiff’s theory, the BTC price surged even while tensions were still high between the US and China in the ongoing trade war. Prior to China revealing that trade negotiations would take place on May 10, the flagship… Read More at Coingape.com
The post Peter Schiff Claims Bitcoin Is The Opposite Of Gold Amid JPMorgan’s Bold Prediction appeared first on CoinGape.
