Peter Schiff, a vocal itcoin">Bitcoin critic, has drawn attention after calling itcoin">Bitcoin “digital anti-gold” in a recent tweet. Schiff rejected the popular narrative of itcoin">Bitcoin being “digital gold,” arguing it should instead be seen as a bet against gold and inflation hedges like the US dollar.
This statement clashes with sentiments from crypto leaders like Cathie Wood, who view itcoin">Bitcoin as digital gold and a top store of value. But Schiff has long warned of the risks of crypto and touted gold as superior.
Schiff’s anti-itcoin">Bitcoin rhetoric was swiftly met with opposition from the crypto community. Many rejected his analysis and theoretical understanding of itcoin">Bitcoin. Some highlighted itcoin">Bitcoin’s distinct differences from gold as a technological innovation.
Overall, crypto enthusiasts remain highly bullish on itcoin">Bitcoin’s future value. Some believe it could eventually surpass gold, despite Schiff’s objections. The economist is well-known for his crypto skepticism, but the community firmly disagrees with labeling itcoin">Bitcoin as “digital anti-gold.”
