Is bitcoin an inflation hedge?
Peter Schiff recently appeared on RT Boom Bust with Natalie Brunell of Coin Stories to discuss inflation and whether bitcoin is a hedge. Peter said bitcoin is not an inflation hedge. He called it a “speculative token” with its price driven by supply and demand.
But what about gold? It didn’t perform like an inflation hedge in 2021 despite the inflation freight train. Peter said the reason gold has had some problems is because the market wrongly believes the Fed.
The other day a friend of mine asked me, tacos or burritos?
My response: why not both?
Last week, Peter Schiff appeared on NTD News to talk about the Federal Reserve’s increasing dovishness. He said despite all of the assurances from Jerome Powell that the central bank’s monetary policy isn’t stoking inflation, the economy and the dollar are both at risk for collapse. The Fed is the only thing standing in the way and it can’t stand there forever.
During this interview, Peter also touched on his recent Twitter debate with Elon Musk about bitcoin.
As turmoil continues in the markets with stocks selling off due to continued fears over coronavirus and its potential economic impact, Peter Schiff says gold is doing exactly what it’s supposed to do — serving as a safe haven and a store of value.
SchiffGold can now accept the Ethereum cryptocurrency as a method of payment for gold and silver. This is great news for investors looking to diversify their cryptocurrency portfolio with precious metals.
For details on how to buy gold or silver using bitcoin, bitcoin cash or Ethereum, click HERE.
A recent video ad produced by a digital currency asset company titled “Drop Gold” created some waves on social media last week. The ad encourages investors to drop gold from their portfolios and replace it with digital currencies such as Bitcoin. “In a digital world, gold shouldn’t weigh down your portfolio,” the ad proclaims.
But is Bitcoin really a replacement for gold? While the Drop Gold ad may seem clever and cute, cryptocurrencies aren’t a replacement for gold.
Bitcoin investors are selling cryptocurrency and buying gold, according to a number of investment analysts.
“I do think that Bitcoin pulled a little bit of demand away from gold last year, in 2017,” Jan Van Eck told CNBC’s ETF Edge last week. “Interestingly, we just polled 4,000 bitcoin investors and their number one investment for 2019 is actually gold. So gold lost to bitcoin and now it’s going the other way.”
What’s going on in precious metals markets? Is a recession looming? If so, what does that mean for gold and silver?
In this episode of It’s Your Dime, Mike Maharrey talks to precious metals and investment expert Chris Blasi about these questions and much more.
Bitcoin dropped below $4,000 as a massive selloff in the cryptocurrency market continued over the Thanksgiving weekend.
The price of a bitcoin fell as low as $3,604 during the sell-off. It has lost some 80% of its value from highs reached late last year when the price of bitcoin eclipsed $20,000. Bitcoin has fallen 40% in just two weeks of November. It was the worst price drop since April 2013.
Other cryptocurrencies including ethereum and ripple have seen similar price drops.