may start going up. However, even if what he described were to happen, he said that it would not be necessary to own Bitcoin.Schiff has tweeted that in order for Bitcoin to begin rising, the NASDAQ index must start appreciating and gold needs to drop in price, instead of appreciating now.
Aside from that, the gold bug added, the U.S. Federal Reserve has to ensure an inflation decrease to 2% without harming the economy, and that can be achieved, he stressed, only if the rate hikes are minimal, along with government expenses being cut severely. However, in that case, Schiff states, you do not want to own Bitcoin since things would be healthy enough without people having to hold it.
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