Bitcoin in Peter Schiff’s books: Valid views or skeptic critic?

$30,000 means the king coin was late to the party, already enjoyed by other speculative assets. Referring to the entire crypto assets as “low quality”, Schiff pointed out,

And despite several incidents that seem to have proven his opinion wrong, Schiff has never backed down on his viewpoint. In fact, he once called Bitcoin’s “digital gold” reference a hoax thatHowever, Schiff’s constant criticism has not yielded the results the man would have desired. On a Year-To-Date basis, BTC’s performance was an 84.57% hike.

During this period, CoinShares’ Head of Research, James Butterfill, explained that both assets seemed like a less risky investment. This was his conclusion when he compared Bitcoin to other assets, like the S&P 500. Yahoo Finance“As Bitcoin begins to behave more like a safe haven asset and less like a risky one, there are some fundamental similarities between Bitcoin and gold that are notable.

“Bitcoin is being adopted quite rapidly and the result of this means that the price is going to go a lot higher.”

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