Says Bitcoin Is Dead, Peter Schiff Compares Silver Performance
JAKARTA Peter Schiff, a financial expert best known for his negative views on crypto assets, has again shocked the public by stating that Bitcoin (BTC) is "dead", although the price is close to a record high.
Schiff highlighted the comparison of Bitcoin and silver performances. Since April, Bitcoin has only increased by 2%, while silver has jumped more than 21%. According to Schiff, as quoted by CoinGape, silver offers more than ten times the profit compared to Bitcoin. He even called silver a Bitcoin 2.0.
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Schiff wants to correct a misunderstanding about Bitcoin. Although often equated with gold, Bitcoin is actually a different digital asset. Schiff insists that his criticism is not for seeking publicity, but for his concern for investor welfare.
On the other hand, veteran trader Peter Brandt suggested that we ignore Schiff's pessimistic view of Bitcoin. Brandt thinks Schiff is trying to distract from Bitcoin's success by promoting silver. However, many experts see Bitcoin as an important innovation in the world of finance.