On Sunday, Peter Schiff, a well-known critic of Bitcoin (CRYPTO: BTC), highlighted the disparity between gold’s record high prices and Bitcoin’s current valuation.
Why Is Bitcoin Even ‘Digital Gold’
Schiff questioned why Bitcoin, often dubbed “digital gold,” remains over 13% below its peak from November 2021. He also pointed out the extensive hype, governmental backing, and corporate investments in Bitcoin, yet it still lags behind its previous highs when measured against gold. Schiff’s comments come as gold prices soar, setting new records.