.PeterSchiff bets on gold during the recovery rally on the market, unsurprisingly
is underperforming against gold, despite the recent spike in Bitcoin prices. He argued that the 20% rise in Bitcoin prices as a result of the long-awaited Fed pivot is not indicative of it being a better inflation hedge than gold, as both Bitcoin and gold prices only returned to their February levels.
Schiff's tweet sparked a conversation on Twitter, with Binance CEO Changpeng Zhao chiming in to express his agreement with Schiff. Zhao acknowledged that gold is almost as good as Bitcoin in terms of being a hedge against inflation.Schiff has long been known for his criticism of Bitcoin, calling it a"bubble" and a"Ponzi scheme.
While the debate over whether Bitcoin or gold is a better store of value and hedge against inflation continues, it is clear that both assets have their proponents and detractors. Investors should carefully consider their investment objectives and risk tolerance before making any investment decisions.
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