Peter Schiff again attracted the attention of the crypto community

After reaching the new ATH with gold, the EURO Pacific Capital President Peter Schiff called the precious metal money.

“Gold is not just an exchange product. This is money. Under normal circumstances, the asset does not demonstrate such dynamics. […] This is the end of the dominance of the US dollar. Life in America is about to change as few people can imagine, ”he predicted.

Since the beginning of the year, precious metal has risen in price by 30.7% against the background of the weakening of the dollar by 9.2% of the currency basket, while bitcoin has met 4.5%.

Schiff critics indicated the absence of gold in one of the four functions of money – a payment product.

“This morning in Starbucks I cut off a little from my gold ingot. They accepted it as payment. For the first time in recent years, ”said the entrepreneur and investor Mike Alfred.

Others emphasized that, unlike gold, Bitcoin copes with this role. One of the commentators announced the payment of the haircut in the first cryptocurrency.

According to the trader, Peter Brandt, the gold is overdue, and the stock market is resold.

“In the short term, it is still unclear, in the long -term – the situation is only in the initial stage,” he said.

Earlier, the co -founder of BITMEX Arthur Hayes predicted the increase in the cost of the first cryptocurrency above $ 100,000 due to the reverse redemption of the US Treasury bonds.

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Source: Cryptocurrency

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