Peter Schiff: Investors buy Bitcoin to get rich, while they buy gold to preserve wealth

2024-12-16 17:00:22

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ChainCatcher news, economist and gold advocate Peter Schiff posted on X: "Most of the people buying Bitcoin now believe it will make them rich. Most of those who already own Bitcoin refuse to sell because they hold the same belief. The majority of those selling Bitcoin have already become wealthy because they bought Bitcoin years ago and are now cashing out.

Many people buying gold actually need it for business. Investors buy gold not to get rich, but to preserve wealth, or at least to maintain the value of their existing assets. So there is a significant difference between the two."

Schiff also stated: "Today's Bitcoin price has once again reached a new all-time high. It is very likely that tomorrow we will find out the buyer is Michael Saylor. This seems to be a trend, as this has happened for the past five Mondays."

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