Peter Schiff Pitches Gold As Potential Bitcoin Alternative

In a tweet made minutes before the time of writing this article, American stockbroker and Bitcoin critic Peter Schiff drew the attention of investors towards the bull market in gold. The American stockbroker said in the tweet that gold had steadily risen to less than 2% of its highs in November last year. Peter Schiff Says Gold Must Rise More Than 10% to Distract Bitcoin Investors Peter Schiff said that although gold had been doing reasonably well, it needed to rise more than 10% to return to its November highs. This was because investors were solely focused on the bearish market rally in Bitcoin. Thus, they failed to see any considerable growth in gold prices and the asset needed to perform outstandingly well to attract their attention. The traditional asset was trading at over $1,860 in November last year. Incidentally, this isn’t the first time Peter Schiff has derided Bitcoin and its investors. In a tweet made last week, the American stockbroker had said that Bitcoin was like a digital pyramid scheme and people investing in this asset were ‘fools’. He also went on to say that the obsession with Bitcoin would continue until the number of people investing in the coin dropped significantly or they run out of money to buy anymore Bitcoin. The post Peter Schiff Pitches Gold As Potential Bitcoin Alternative appeared first on Cryptoknowmics-Crypto News and Media Platform.