On March 6, the price of soared to $70,000, breaking its prior record set in November 2021 during the pandemic. Similarly, reached a new all-time peak at $2,145.37, surpassing its previous high from last December.
Economist Peter Schiff shared his doubts in recent remarks about Bitcoin’s latest price surge, particularly in comparison to gold. Despite Bitcoin reaching new heights in dollar terms, he pointed out that when measured against the precious metal, the primary crypto asset has not achieved new highs.
Schiff suggested this discrepancy could weaken the argument for Bitcoin as “digital gold,” or replacing the yellow metal as the ultimate store of value. He added that the cryptocurrency still lags behind in the Bitcoin-to-gold ratio, which measures the relative performance of the two assets.
Schiff’s remarks come amid a backdrop of Bitcoin’s strong performance gains. The cryptocurrency saw an impressive increase…
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