Economist Peter Schiff is reigniting a debate about Bitcoin’s future by arguing that central banks are shifting their investment towards gold, driven by concerns over economic uncertainty and potential U.S. dollar devaluation. Schiff highlights this trend in his recent commentary, challenging the notion that Bitcoin is the ultimate solution for investors to navigate the global financial system. Why Gold? Schiff explains that central banks worldwide are prioritizing gold as a hedge against political and economic risks, citing their increasing purchases of the precious metal, which now surpasses one metric ton annually. This trend is attributed to geopolitical tensions, crypto scams, and shifting economic policies that are driving demand for traditional assets like gold. A Tale of Two Assets Schiff contrasts Bitcoin’s volatility with gold’s stability, asserting that central banks are cautious about investing in cryptocurrency due to its inherent unpredictability. Meanwhile, countries like Russia have been proactively strengthening their gold reserves to mitigate potential financial impacts from sanctions and geopolitical instability. **Bitcoin vs. Gold: A Shifting Landscape** While some experts, like Ran Neuner of CNBC, believe Bitcoin could potentially outperform gold in the long run thanks to blockchain technology’s advancement and growing institutional adoption, Schiff remains skeptical, citing concerns about regulatory ambiguity surrounding stablecoins. The Future Remains Unclear** The debate between Bitcoin and gold is far from over. Time will tell if Schiff’s predictions hold true as the cryptocurrency space continues to evolve.