to Bitcoin (BTC) CEO of Euro Pacific Capital and co-founder of Schiff Gold, known for his hatred of Peter Schiffbillionaire Paul Tudor JonesHe criticized .
“Bitcoin is not the fastest horse in the race!” said Schiff, back on Twitter. Expressing that gold is superior to Bitcoin at every opportunity, Schiff defended the same view.
When it comes to #inflation hedges, @ptj_official was wrong to proclaim #Bitcoin to be “the fastest horse in the race.” Over the past year, with inflation finally perceived to be a threat, the price of Bitcoin has fallen by 37%. In contrast, the price of #gold has risen by 12%!
— Peter Schiff (@PeterSchiff) March 12, 2022
“(…) Over the past year, the price of Bitcoin has dropped 37% with inflation finally being perceived as a threat. In contrast, the gold price increased by 12%!” Commenting on this, the famous name added that the founder of Tudor Investment Corporation was wrong about Bitcoin.
The famous name stated that if the price is below $ 30,000, there will be a serious price decrease and the price will come to $ 20,000 in a very short time.
The leading crypto, which has been pushing the $ 40 thousand level for a while, is trading under $ 40 thousand again as of the moment. However, BTC, which managed to reach a local high by reaching $ 42,576 on March 9, soon experienced a sudden decrease and fell to the current level of $ 39,126. Peter Schiff, on the other hand, described these sudden rises of Bitcoin as “dead cat bounce”.