Russians are Choosing Gold Over Bitcoin, Claims Peter Schiff

Peter Schiff, a stockbroker and vociferous crypto-skeptic who promotes gold as an investment class has once again lambasted Bitcoin (BTC) as a far too risky asset to be used as a safe haven or a store of value, especially amid the Russia-Ukraine crisis. Peter Schiff Takes a Dig at Bitcoin (BTC) Once Again The never-ending debate around bitcoin (BTC) versus gold is once again in the spotlight since the breakout of the Ukraine-Russia war. In fact, when the news of Russia invading Ukraine first broke last week, it sent a shock wave through all of the financial markets. Bitcoin and other digital assets were no exception as they had plummeted following the news. However, given the precious yellow metal’s age-old status as a financial safe haven, the rise in Gold prices in times of the recent political turmoil comes hardly as a surprise. Taking the opportunity to criticize the flagship cryptocurrency once again, self-proclaimed Gold Bug Peter Schiff believes that even Russians are flocking to Gold over Bitcoin (BTC) as a safe haven asset. #Russians who are looking to store their wealth in an asset that governments can't seize are choosing #gold over #Bitcoin. Bitcoin is far too risky to be used as a safe haven or a store of value. Bitcoin has failed its first major test. I don't think it will get a second chance! — Peter Schiff (@PeterSchiff) March 4, 2022 Bitcoin Out of Government Control Recently, the Biden administration announce...