Bitcoin critic Peter Schiff has reiterated his stance that central banks prefer gold over Bitcoin as a reserve asset. He argues that despite Bitcoin's rising popularity, central banks are increasingly turning to gold due to its historical reliability and stability. Schiff points out that central banks are reducing their dollar reserves in favor of gold, highlighting its enduring status as a safe haven.
Schiff also criticizes the notion of Bitcoin as "digital gold," emphasizing that its volatility and lack of regulation make it unsuitable as a primary reserve choice for central banks. He notes that while some investors are drawn to Bitcoin, central banks continue to favor gold for its proven track record and tangible nature.
In summary, Schiff maintains that gold's established role and stability make it the preferred choice for central banks over the more volatile and less regulated Bitcoin.
