{"id":580945,"date":"2024-02-28T23:00:17","date_gmt":"2024-02-28T23:00:17","guid":{"rendered":"https:\/\/ktsl888.com\/?p=580945"},"modified":"2024-06-11T06:50:48","modified_gmt":"2024-06-11T06:50:48","slug":"bitcoin-isnt-digital-gold","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-isnt-digital-gold\/","title":{"rendered":"Renowned Economist Says Bitcoin Isn\u2019t Digital Gold, Then What Is It?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">Chief Economist and Bitcoin antagonist, <\/span><a href=\"https:\/\/bitcoinist.com\/economist-bitcoin-price-10-million\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Peter Schiff<\/span><\/a><span style=\"font-weight: 400\"> has made another <\/span><a href=\"https:\/\/bitcoinist.com\/still-this-high-says-economist-bitcoin-below-39000\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">controversial statement <\/span><\/a><span style=\"font-weight: 400\">about BTC, comparing the world\u2019s largest cryptocurrency to gold, while expressing skepticism about BTC being lauded as the \u201cdigital gold.\u201d<\/span><\/p>\n<h2>Bitcoin Is \u201cDigital Anti-Gold\u201d<\/h2>\n<p><span style=\"font-weight: 400\">In a February 27 post on X (formerly Twitter), Schiff publicly <\/span><a href=\"https:\/\/x.com\/peterschiff\/status\/19058135?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">criticized<\/span><\/a><span style=\"font-weight: 400\"> Bitcoin\u2019s title as the digital gold, asserting that the cryptocurrency should be seen as a bet against gold instead of a digital counterpart of the precious metal. While the renowned economist has stated that \u201cBitcoin is not digital gold,\u201d he has also provided his version of a more accurate description of Bitcoin, characterizing the cryptocurrency as a \u201cdigital anti-gold.\u201d<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-4000-crypto-analyst\/\">Can Ethereum Touch $4,000? Crypto Analyst Says ETH Rally Far From Over<\/a><\/div>\n<p><span style=\"font-weight: 400\">Earlier in November 2023, ARK Invest CEO, <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/cathie-wood-bitcoin-gold\/\"><span style=\"font-weight: 400\">Cathie Woods<\/span><\/a><span style=\"font-weight: 400\"> declared Bitcoin to be a <\/span><a href=\"https:\/\/bitcoinist.com\/cathie-wood-hails-bitcoin-as-digital-gold\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">digital gold<\/span><\/a><span style=\"font-weight: 400\">, confidently stating that she would rather wager on Bitcoin than gold. Similarly, Chief Executive Officer (CEO) of MicroStrategy, <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-will-beat-gold-as-store-of-value\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Michael Saylor<\/span><\/a><span style=\"font-weight: 400\"> and CEO of VanEck, <\/span><a href=\"https:\/\/bitcoinist.com\/vaneck-ceo-declares-bitcoin-unbeatable\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Jan van Eck<\/span><\/a><span style=\"font-weight: 400\">, have confirmed BTC to be the ultimate store of value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">These sentiments and statements from renowned BTC investors and leading cryptocurrency supporters clearly contrast <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-hater-peter-schiff-scoffs-at-rally\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Schiff&#8217;s perspective on BTC<\/span><\/a><span style=\"font-weight: 400\">. The global strategist is well known for his opposing views against BTC and other cryptocurrencies, often criticizing the value of these digital assets and informing the broader crypto community of the <\/span><a href=\"https:\/\/bitcoinist.com\/sell-bitcoin-btc-now-says-peter-schiff\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">risks associated with cryptocurrencies<\/span><\/a><span style=\"font-weight: 400\"> while glorifying gold\u2019s value.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The economist has remained critical of Bitcoin&#8217;s perceived role as a <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-as-a-store-of-value-comparing-with-gold-and-fiat-currencies\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">digital store of value<\/span><\/a><span style=\"font-weight: 400\">, highlighting that BTC\u00a0buyers should hope for the sustained control of inflationary pressures and the ongoing strength of the United States dollar (USD) against other fiat currencies.<\/span><\/p>\n<h2>Crypto Community In Opposition<\/h2>\n<p><span style=\"font-weight: 400\">The crypto community has swiftly offered their personal opinions on Schiff\u2019s statement about Bitcoin, <\/span><a href=\"https:\/\/x.com\/bitcoinbanjox\/status\/89399724?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">opposing<\/span><\/a><span style=\"font-weight: 400\"> the <\/span><a href=\"https:\/\/bitcoinist.com\/bitcoin-hater-the-fed-has-lost\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">Bitcoin antagonist\u2019s <\/span><\/a><span style=\"font-weight: 400\">views and showcasing their relentless support for the cryptocurrency.\u00a0<\/span><\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/ktsl888.com\/news\/cardano\/cardano-adoption-ada-price-3-1\/\">Cardano Adoption Explodes: ADA Price Ready To Reclaim $3.1 All-Time High?<\/a><\/div>\n<p><span style=\"font-weight: 400\">One crypto community member has <\/span><a href=\"https:\/\/x.com\/ingjerom\/status\/28248920?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">asserted<\/span><\/a><span style=\"font-weight: 400\"> that <\/span><a href=\"https:\/\/ktsl888.com\/news\/bitcoin\/peter-schiff-warns-investors-from-bitcoin-says-they-should-buy-this-instead\/\"><span style=\"font-weight: 400\">Schiff\u2019s Bitcoin remarks<\/span><\/a><span style=\"font-weight: 400\"> lack theoretical validity, stemming from a fundamental misunderstanding and fear of BTC&#8217;s value and potential. Another member has highlighted the differences between gold and Bitcoin, <\/span><a href=\"https:\/\/x.com\/olebeem\/status\/26211297?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">describing<\/span><\/a><span style=\"font-weight: 400\"> the cryptocurrency as a \u201ctech innovation\u201d which has nothing to do with precious metals like gold.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">The majority of crypto members have shown unwavering support for <\/span><a href=\"https:\/\/bitcoinist.com\/good-things-on-the-way-for-bitcoin-investors\/\" rel=\"nofollow\"><span style=\"font-weight: 400\">BTC<\/span><\/a><span style=\"font-weight: 400\">, with some even stating that Bitcoin could potentially surpass the value of gold in the future.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cBitcoin is going to consume gold. It\u2019s not a matter of if, it\u2019s a matter of when,\u201d a community member <\/span><a href=\"https:\/\/x.com\/itsbottomg\/status\/50217085?s=46\" rel=\"nofollow\"><span style=\"font-weight: 400\">stated<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/xld6ruOn\/\" alt=\"Bitcoin price chart from Tradingview.com\" width=\"3286\" height=\"1530\"><\/p>\n<pre style=\"text-align: center\">BTC price surges despite criticism | Source: <a href=\"http:\/\/Tradingview.com\" rel=\"nofollow\">BTCUSD on Tradingview.com<\/a><\/pre>\n<div class=\"disclaimer-shortcode\">Featured image from InfoMoney, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Chief Economist and Bitcoin antagonist, Peter Schiff has made another controversial statement about BTC, comparing the world\u2019s largest cryptocurrency to gold, while expressing skepticism about BTC being lauded as the \u201cdigital gold.\u201d Bitcoin Is \u201cDigital Anti-Gold\u201d In a February 27 post on X (formerly Twitter), Schiff publicly criticized Bitcoin\u2019s title as the digital gold, asserting that the cryptocurrency should be seen as a bet against gold instead of a digital counterpart of the precious metal. While the renowned economist has stated that \u201cBitcoin is not digital gold,\u201d he has also provided his version of a more accurate description of Bitcoin, characterizing the cryptocurrency as a \u201cdigital anti-gold.\u201d Related Reading: Can Ethereum Touch $4,000? Crypto Analyst Says ETH Rally Far From Over Earlier in November 2023, ARK Invest CEO, Cathie Woods declared Bitcoin to be a digital gold, confidently stating that she would rather wager on Bitcoin than gold. Similarly, Chief Executive Officer (CEO) of MicroStrategy, Michael Saylor and CEO of VanEck, Jan van Eck, have confirmed BTC to be the ultimate store of value.\u00a0 These sentiments and statements from renowned BTC investors and leading cryptocurrency supporters clearly contrast Schiff&#8217;s perspective on BTC. The global strategist is well known for his opposing views against BTC and other cryptocurrencies, often criticizing the value of these digital assets and informing the broader crypto community of the risks associated with cryptocurrencies while glorifying gold\u2019s value.\u00a0 The economist has remained critical of Bitcoin&#8217;s perceived role as a digital store of value, highlighting that BTC\u00a0buyers should hope for the sustained control of inflationary pressures and the ongoing strength of the United States dollar (USD) against other fiat currencies. Crypto Community In Opposition The crypto community has swiftly offered their personal opinions on Schiff\u2019s statement about Bitcoin, opposing the Bitcoin antagonist\u2019s views and showcasing their relentless support for the cryptocurrency.\u00a0 Related Reading: Cardano Adoption Explodes: ADA Price Ready To Reclaim $3.1 All-Time High? One crypto community member has asserted that Schiff\u2019s Bitcoin remarks lack theoretical validity, stemming from a fundamental misunderstanding and fear of BTC&#8217;s value and potential. Another member has highlighted the differences between gold and Bitcoin, describing the cryptocurrency as a \u201ctech innovation\u201d which has nothing to do with precious metals like gold.\u00a0 The majority of crypto members have shown unwavering support for BTC, with some even stating that Bitcoin could potentially surpass the value of gold in the future. \u201cBitcoin is going to consume gold. It\u2019s not a matter of if, it\u2019s a matter of when,\u201d a community member stated. BTC price surges despite criticism | Source: BTCUSD on Tradingview.com Featured image from InfoMoney, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":581737,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,5514,656,679,1119,89185,1122,1144,78790,2209,89647],"class_list":["post-580945","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-gold","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt","tag-gold","tag-gold-news"],"acf":[],"yoast_head":"\n<title>Renowned Economist Says Bitcoin Isn\u2019t Digital Gold, Then What Is It?<\/title>\n<meta name=\"description\" content=\"Chief Economist and Bitcoin antagonist, Peter Schiff has made another controversial 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Matherson\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ktsl888.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/3d21ae3d2529ce2df4466b61ea80b449?s=96&d=mm&r=g\",\"caption\":\"Scott Matherson\"},\"description\":\"Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers. Scott\u2019s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott\u2019s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life. With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. 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