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Canadian billionaire Peter Schiff has reacted to Bitcoin’s recent drop as gold sets a fresh record high. In a tweet, he quipped, “The Bitcoin maxis have changed the narrative so many times, whenever each new narrative fails. Bitcoin has had more plot twists than ‘Gone Girl’.”
Schiff’s comment comes as gold has been substantially outperforming Bitcoin since the start of the year amid global trade tensions. The largest cryptocurrency has lost its bullish momentum, along with U.S. stocks.
Gold expert Giustra has urged Bitcoin advocates to stop promoting the idea that Bitcoin is “the equivalent or better than gold.” Some analysts believe that Bitcoin is ambidextrous in nature, meaning it can act as both a safe haven asset and a risk asset.
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Source: https://u.today/canadian-billionaire-says-bitcoin-and-gold-are-very-different
