{"id":87670,"date":"2023-11-29T19:28:29","date_gmt":"2023-11-29T17:28:29","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=87670"},"modified":"2025-09-13T13:20:07","modified_gmt":"2025-09-13T10:20:07","slug":"peter-schiff-calls-bitcoin-a-cheap-imitation-of-gold","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/peter-schiff-calls-bitcoin-a-cheap-imitation-of-gold\/","title":{"rendered":"Peter Schiff calls Bitcoin a &#8216;cheap imitation of gold&#8217;"},"content":{"rendered":"<p>Peter Schiff, the president of Euro Pacific Capital and a critic of Bitcoin, again stated that gold is superior to Bitcoin, and called the latter a &#8216;cheap imitation&#8217;.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">A breakout in <a href=\\\"https:\/\/twitter.com\/hashtag\/gold?src=hash&#038;ref_src=twsrc%5Etfw\\\">#gold<\/a> may coincide with a breakdown in <a href=\\\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\\\">#Bitcoin<\/a>. This makes sense as Bitcoin pumpers have used gold\u2019s failure to breakout to promote Bitcoin as a supposed digital alternative. But once the real thing starts performing there\u2019s no need to settle for a cheap imitation.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\\\"https:\/\/twitter.com\/PeterSchiff\/status\/1729234439476277353?ref_src=twsrc%5Etfw\\\">November 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\"><p>\n<cite>\u201cA breakout in gold&#8217;s price may coincide with a rally in Bitcoin. This makes sense, as Bitcoin supporters have used gold&#8217;s failures to promote Bitcoin as the supposed digital alternative. But once the real thing starts performing, there&#8217;s no need to settle for a cheap imitation,\u201d he wrote.<\/cite><\/p><\/blockquote>\n<p>In March, Schiff <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-urged-selling-bitcoin-amid-silvergate-bank-troubles\">called to sell the first cryptocurrency<\/a> and buy gold in light of <a href=\"https:\/\/u1f987.com\/en\/news\/silvergate-to-liquidate-silvergate-bank\">problems at Silvergate Bank<\/a>.<\/p>\n<p>In May he <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-announces-nft-collection-on-bitcoin\">announced<\/a> his own collection of <a href=\"https:\/\/u1f987.com\/en\/news\/what-are-nfts\">non-fungible tokens<\/a> based on Bitcoin.<\/p>\n<p>In July, the president of Euro Pacific Capital <a href=\"https:\/\/u1f987.com\/en\/news\/peter-schiff-predicts-bitcoin-will-fall-to-zero\">predicted<\/a> a rapid plunge of digital gold to zero. At that time, the asset traded at $31,000.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Peter Schiff, president of Euro Pacific Capital and critic of Bitcoin, again stated that gold is superior to Bitcoin, and called the latter &#8216;cheap imitation&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":87671,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1138,1298],"class_list":["post-87670","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-opinions","tag-peter-schiff"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87670","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=87670"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87670\/revisions"}],"predecessor-version":[{"id":87672,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/87670\/revisions\/87672"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/87671"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=87670"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=87670"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=87670"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}