Peter Schiff: Gold is the true safe-haven asset, not Bitcoin

Peter Schiff stated that the conflict between Israel and Iran reveals the weaknesses of Bitcoin as a safe-haven asset. While oil prices rose by 10% and gold increased by 1.8%, Bitcoin fell by 2.5%. He believes that if Bitcoin is truly 'digital gold', it should rise in the face of global tensions.

He also pointed out that central banks around the world are selling U.S. Treasury bonds and turning to buying gold, which indicates that investors have more trust in gold as a traditional store of value.

Despite this, the Bitcoin community argues that BTC is merely experiencing a short-term correction. Over the past 7 days, the price of Bitcoin has still risen by 0.75%, reaching $105,430, with a 24-hour trading volume skyrocketing by 40.56% to $73.19 billion.