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Peter Schiff: Gold is the real safe-haven asset, not Bitcoin
Peter Schiff believes that the Israel-Iran conflict has exposed the weakness of Bitcoin as a safe-haven asset. When oil prices rose by 10% and gold increased by 1.8%, Bitcoin fell by 2.5%. He asserts that if BTC is truly “digital gold,” it should have risen during times of global tension.
Schiff also emphasized the global trend of central banks selling U.S. bonds and shifting to accumulate gold, indicating that confidence is shifting towards gold – a traditional safe haven asset.
However, the Bitcoin community refuted this, claiming that BTC is only undergoing a short-term adjustment. Over the past 7 days, the price of BTC has still increased slightly by 0.75% to $105,430, with the 24h trading volume rising sharply by 40.56% to $73.19 billion.