Current market data shows that the price of Gold has surged to new highs amid rising economic concerns. Crypto critic and Economist Peter Schiff believes it could climb even further as the Presidency pressures the U.S. Federal Reserve to cut interest rates. Meanwhile, Bitcoin continues rising quietly, though its future remains uncertain.
Peter Schiff Shares Big Take on Gold
According to his latest X post, Peter Schiff, a long-time gold proponent and critic of cryptocurrencies, has once again voiced his confidence in the precious metal as a hedge against inflation.
Peter Schiff pointed to gold’s recent surge and said the metal could rise further if the Federal Reserve lowers interest rates. This view comes as the U.S. dollar index (DXY) drops to a three-year low, as the U.S.-China trade war raises fears about economic stability.
Schiff believes gold’s physical nature, limited supply, and long-standing value make it a dependable shield against inflation. He also referenced the Trump administration’s ongoing push for a tariff shift on mineral imports, which he believes could increase gold demand.
In contrast, Schiff remains critical of Bitcoin. In an earlier update, Peter Schiff slammed Trump’s BTC reserve plan following a 12% drop in the coin’s value.
According to him, BTC is a speculative asset, not a real store of value. He noted that while gold’s annual price volatility usually stays within 10–20%, Bitcoin often fluctuates by over 50%. To Peter Schiff, Bitcoin is too unstable to be a safe hedge.
Gold Sees Rally as Investors Flee Risk
Gold rose 2% in a single day to cross $3,400 on April 21, a record high. The gain is linked to the weakening U.S. dollar and concerns over rising global trade disputes.
Investors are turning to gold, worried about inflation and the broader health of the global economy. Per market speculation, if the dollar continues to slide and trade disputes worsen, gold could cross $3,500 by mid-year.
With investors withdrawing from riskier assets, gold’s image as a safe and stable investment option grows even stronger.
Bitcoin Emerges With Gains Despite Expert Uncertainty
CoinMarketCap data shows that Bitcoin was trading at $86,882.25, up by 2.76%. At its peak during trading hours, the BTC price reached its highest point in a month. While some see this as a sign that Bitcoin may follow gold’s upward trend, others are unconvinced.
On the positive side, renowned author Robert Kiyosaki believes BTC could reach $180,000 to $200,000 this year, citing economic uncertainty and the coin’s fixed supply.
In line with this update, Michael Saylor’s MicroStrategy purchased 6,556 BTC for $555 million, and the MSTR stock has rebounded following the announcement. The current market outlook is strengthening many people’s belief that Bitcoin is a viable hedge against inflation, in contrast to Peter Schiff’s opinion.
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