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Economist Questions Future Value of Bitcoin as Central Banks Increase Gold Reserves
According to Deep Tide TechFlow, economist Peter Schiff questions the future value of Bitcoin, pointing out that global central banks are increasing gold reserves instead of buying Bitcoin. He asks why central banks choose gold over the dollar.
Central banks purchase over 1,000 tons of gold annually, double the average level of the past decade. Bank of America strategist Michael Widmer states that emerging market central banks should raise their gold reserve targets to 30% to enhance financial protection.
Schiff criticizes Bitcoin's volatility, suggesting that American investors may be affected by price fluctuations.
Central banks purchase over 1,000 tons of gold annually, double the average level of the past decade. Bank of America strategist Michael Widmer states that emerging market central banks should raise their gold reserve targets to 30% to enhance financial protection.
Schiff criticizes Bitcoin's volatility, suggesting that American investors may be affected by price fluctuations.
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