Summary
- Peter Schiff reiterated that Bitcoin is not digital gold.
- He emphasized that Bitcoin price is 13% lower than its all-time high and that it is not a store of value.
- He noted that international gold prices hit an all-time high while questioning Bitcoin's role as a store of value.
Bitcoin commentator and economist Peter Schiff (Peter Schiff) reiterated that Bitcoin (BTC) is not digital gold.
On the 1st (local time), Peter Schiff said via X (formerly Twitter), "(amid economic uncertainty) gold has reached an all-time high," and said, "if Bitcoin were digital gold, it could not be priced 13% below its all-time high."
He continued, "Despite support from the U.S. government and corporate buying, Bitcoin's price remains low," and said, "this is because Bitcoin cannot store value."
Meanwhile, on the 29th (local time) at the New York Mercantile Exchange, international gold futures closed at $3530.70 per ounce, setting a record closing high.
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
