Is Bitcoin a Digital Gold Substitute? Schiff Disputes.

Peter Schiff, founder and chief strategist at Euro Pacific Capital, argues that Bitcoin’s performance contradicts its claim as a digital representation of gold. He cites instances where Bitcoin has fallen while gold has risen, highlighting the discrepancy between their market behavior. Schiff challenges the widespread analogy between Bitcoin and gold, positing that Bitcoin lacks the intrinsic value and stability inherent in traditional precious metals.