Prominent gold advocate and economist Peter Schiff has once again criticized Bitcoin, highlighting diverging market behavior between the cryptocurrency and gold.
Taking to X (formerly Twitter) early Monday morning, Schiff pointed to U.S. stock futures and the dollar both selling off. While gold went up about 1%, Bitcoin went down about 2%.
“Tonight U.S. stock futures and the dollar are both selling off. But once again gold and Bitcoin are going in opposite directions,” Schiff stated. “Gold is acting like a safe haven… Bitcoin is trading like a risk asset… Clearly Bitcoin is not digital gold.”
Schiff's comments come as investors are keenly interested in correlations between traditional assets, cryptocurrencies, and inflation hedges amid macroeconomic turbulence.output
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