According to Deep Tide TechFlow, economist Peter Schiff questions the future value of Bitcoin, pointing out that central banks around the world are increasing their gold reserves instead of purchasing Bitcoin. He asks why central banks are choosing gold over the dollar.
Central banks are purchasing over 1,000 tons of gold annually, which is double the average level of the past decade. Michael Widmer, a strategist at Bank of America, suggests that emerging market central banks should raise their gold reserve targets to 30% to enhance financial protection.
Schiff criticizes the volatility of Bitcoin, believing that American investors may be affected by price fluctuations.
