Bitcoin (BTC) Famous investor known for his hostility to cryptocurrencies, especially to cryptocurrencies Peter Schiff, It continued to beat Bitcoin.
to BTC Schiff, who is a firm gold defender in the face of his hostility, once again shared his Twitter account. gold with Bitcoin compared.
Stating that traditional assets such as gold outperform Bitcoin, Schiff said that the price of gold fell by only $ 6 in connection with the fall in gold-related shares.
Explaining the performance of Bitcoin with gold with an example, Schiff cited Valkyrie’s Miners of the Horse (GDX) and Bitcoin Miners ETFs as examples.
“Gold stocks (GDX) fell 5%, resulting in a drop of just $6 in gold price.
But since February 10, GDX has increased by 25%. In contrast, Valkyrie’s Bitcoin Miners ETF is down 35%.
10 thousand dollars were invested in gold miner shares and this money became 12.5 thousand dollars. However, $10,000 was invested in stupid cryptocurrency miner shares, but that money was $6.5k.”
Continuing to share, Schiff, as a result of bitcoin open to risks but of gold He argued that he was not at risk.
yes #gold stocks got clobbered today, with the GDX down 5% on a mere $6 drop in the price of gold. But since Feb. 10th the GDX is up 25%. In contrast, The Valkyrie #Bitcoin Miners ETF is down 35%. $10K invested in gold miners = $12.5K. $10K invested in fool’s gold miners = $6.5K!
— Peter Schiff (@PeterSchiff) April 21, 2022
Gold advocate Peter Schiff still believes that Bitcoin is worthless in the long run, despite the low performance of gold over many years in the face of Bitcoin’s enormous rise in a short time.
Schiff, who also opposes seeing Bitcoin as a safe haven or an inflation hedge, claims that gold is a safer investment tool than BTC.