Peter Schiff Explains: Bitcoin vs. Gold
Early adopters pitch bitcoins as “gold 2.0″ – a digital currency that cannot be manipulated like fiat money. Bitcoins are even “mined,” similar to physical gold and silver. However, Peter explains why bitcoins still fail as a substitute for gold and strongly urges investors to avoid this risky new currency. Bitcoin could very well have already hit its top, but Peter is confident gold is still well below its future record highs.
Peter explains in the video that the key difference between gold and bitcoin is that gold has intrinsic value.