Famous economist Peter Schiff, nicknamed the “Golden Bug”, claimed that the recent rise in Bitcoin (BTC) did not make it a better inflation protection tool and that the bullish rally in gold is more sustainable.
Peter Schiff’s recent social media in your postonce again Bitcoin against made statements. The economist, who has been known for his opposition to Bitcoin for years, compared the rises of gold and Bitcoin in recent months. What Bitcoin has done in the last three days 20%rise of more than US Federal Reserve (FED) Schiff, who connects it to the statements made by the 2.5% having increased won’t change anything stressed.
The better performance of Bitcoin against gold in the recent period is a better indication. anti-inflation tool Stating that this does not mean that it is the case, the analyst made the following statements in his statement:
Just because Bitcoin is up 20% as a result of the long-awaited Fed pivot, while gold is only 2.5% higher, doesn’t mean Bitcoin is the better inflation hedge. Both gold and Bitcoin prices have only returned to their February levels. The main difference is that only gold’s rally is sustainable.
CZ’s response was quick
Binance CEO Changpeng Zhao (CZ) to Schiff’s post comment did not go unnoticed. Responding to Schiff, CZ said, “We know that gold is “almost” as good as Bitcoin. The community took great interest in this response, and CZ’s comment received twice as many engagements as Schiff’s original post.
We know. We know that gold is almost as good.
Recently MicroStrategy CEO Michael SaylorResponding to a post by Schiff, Bitcoin’s $3,800 will fall had claimed.