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Peter Schiff: Investors buy BTC to get rich, and buy gold to preserve wealth

2024-12-16 09:58:15

BTC0.16%

Odaily Planet Daily News Economist and gold advocate Peter Schiff said in a tweet: "Most people buying BTC now believe it will make them rich. Most people who already own BTC refuse to sell because they hold the same belief. Most people selling BTC have already made a fortune because they bought BTC a few years ago and are now cashing out."
Many people who buy gold actually need gold for business. Investors buy gold not to get rich, but to preserve wealth or at least maintain the value of their existing assets. So there is a big difference between the two.
Afterwards, Schiff also said, 'Today BTC price hit another all-time high. It is very likely that tomorrow we will find out that the buyer is Michael Saylor. This seems to be a trend, as it has happened every Monday for the past five weeks.'

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