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**Peter Schiff Reacts to Bitcoin’s Drop as Gold Sets Fresh Record High**
Renowned economist Peter Schiff has reacted to the recent drop in Bitcoin’s value, as gold prices continue to soar. In a tweet, Schiff highlighted the significant difference between the two assets, emphasizing that Bitcoin is not a safe-haven asset like gold.
Schiff stated: “The Bitcoin maxis have changed the narrative so many times, whenever each new narrative fails. Bitcoin has had more plot twists than ‘Gone Girl,’ he quipped.”
Gold prices have been substantially outperforming Bitcoin since the start of the year amid global trade tensions. The largest cryptocurrency has lost its bullish momentum, together with U.S. stocks.
Giustra urged Bitcoin advocates to stop promoting the idea that Bitcoin is “the equivalent or better than gold.”
Source: https://u.today/canadian-billionaire-says-bitcoin-and-gold-are-very-different
