Schiff notes that silver’s 21% rise since April dwarfs Bitcoin’s 2% gain.
Bitcoin advocates, however, argue that Schiff cherry-picks facts from the near term.
Despite Bitcoin’s recent surge to new all-time highs, renowned financial analyst Peter Schiff has once again shook up the cryptocurrency market by claiming the cryptocurrency is ‘dead’. In his most recent comments, Schiff, who is typically pessimistic about cryptocurrency, focused on the recent performance of bitcoin relative to silver, drawing attention to the striking difference between the two.
Schiff notes that silver’s 21% rise since April dwarfs Bitcoin’s 2% gain. This underperformance, he says, is the last straw that will cause Bitcoin to collapse.
Cherry-Picks Facts
Bitcoin advocates, however, argue that Schiff cherry-picks facts from the near term to back his claims. Compared to silver’s more moderate 14.46% rise so far this year, Bitcoin’s spike of over 60% is striking. Proponents of both
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