Peter Schiff Urges Investors to Sell Bitcoin, Buy Gold, Warns of Sharp Market Drop
JH Kim
Summary
- Peter Schiff said investors should sell Bitcoin and buy gold.
- He said rising inflation and higher bond yields could lead to a sharp drop in the Bitcoin market.
- Schiff said that in this market environment, gold is a better investment than Bitcoin.
Forecast Trend Report by Period
Peter Schiff urged investors to sell Bitcoin and buy gold, warning that rising inflation and higher bond yields could trigger a sharp drop in the Bitcoin market.
Cointelegraph reported on Oct. 14 that Schiff told investors they should "sell Bitcoin and buy gold before the market plunges."
He cited rising inflation and climbing bond yields as the main risk factors.
Schiff said those market conditions make gold a better investment than Bitcoin.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.