Peter Schiff compares Bitcoin and gold

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Peter Schiff compares Bitcoin and gold

Friday, November 22 2013 @ 11:17 AM EST
Views: 7,001

Gold investors have a pretty good idea on where Peter Schiff stands on the precious metal. In this video, the CEO and chief global strategist of Euro Pacific Capital provides his views on Bitcoin.

In his view, Peter gets why the crypto-currency Bitcoin, is gaining interest but at the end of the day he feels that it is just another form of "alchemy" - another (highly speculative) pyramid scheme. Not the same as physical gold and silver. Its not gold 2.0.

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Peter Schiff compares Bitcoin and gold
Authored by: Anonymous on Friday, November 22 2013 @ 12:00 PM EST

Peter is a very bright and articulate guy (his testimony to Congress a couple of years ago is a must watch) but his bearish calls on the market (and bullish for gold/silver) are leaving him to be viewed a bit like the "boy who cried wolf". I am sure they'll eventually pan out but for now the price action has been against him.

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