Peter Schiff Advocates for Bitcoin Investors to Cash Out and Invest in Silver

Bitcoin critic, Peter Schiff, is advising investors to sell their Bitcoin (BTC) holdings and invest in silver as the cryptocurrency reaches a new all-time high of over $118,000. Schiff suggests that with Bitcoin's speculative and overextended high, it is the ideal time for BTC holders to cash in and switch to silver, which he considers a stable and undervalued alternative.

Despite his advice, Bitcoin continues to outperform silver in market value, ranking sixth among global assets with a market cap of $2.20 trillion. Critics of Schiff's stance argue that Bitcoin has clearly outperformed silver and assert they have no plans to dispose of their BTC for silver. This is not the first time Schiff has criticized Bitcoin, previously advising traders to sell BTC in favor of gold mining stocks.