“Renowned Investor Peter Schiff Hails Silver as the Next Big Thing Amid Market Spike”


Renowned crypto critic Peter Schiff recently took to Twitter to proclaim silver as “Bitcoin 2.0” after it experienced a significant price jump of 6% in the stock market. This rise was in contrast to Bitcoin, which had recently surpassed silver’s market capitalization but saw a drop of nearly 6% under financial pressure.

Schiff’s tweet came on the heels of silver’s attempt to reach a new high, but it still falls short of its previous record of $46.47 achieved in 2011. Meanwhile, Bitcoin’s record high of $73,000 last month was driven by the demand for Bitcoin ETFs (Exchange Traded Funds). However, the asset’s value dropped to around $65,000 on Tuesday.

Schiff’s remarks about Bitcoin’s lack of value were echoed by Better Markets CEO Dennis Kelleher, who called the digital currency industry a waste of time and money in an interview with Bloomberg TV. Gold, on the other hand, has also seen a price increase of 1% and currently trades at $2274.

In other news, Grayscale’s GBTC is facing renewed pressure amid ETF outflows, highlighting the ongoing competition between traditional and cryptocurrency investments.

Related articles

Recent articles