Gold investor and longtime Bitcoin critic Peter Schiff has renewed his attacks on the cryptocurrency, claiming it should not be compared to traditional assets such as gold. He rejected the argument by crypto analyst Quinten Francois that gold is roughly 20 times larger than Bitcoin, global equities roughly 100 times larger, and global real estate more than 250 times larger. Schiff also disputed Bitcoin’s status as an inflation hedge, arguing investors should turn to gold or silver instead. He claimed he had been better off not owning Bitcoin over the past five years. He also views artificial intelligence as a threat to Bitcoin rather than a bullish factor.
Source: Read the original article
