CoinVoice recently learned that economist Peter Schiff questioned the future value of Bitcoin on social media, pointing out that global central banks are increasing their gold reserves instead of buying Bitcoin. Schiff posed the question: "If Bitcoin is the future, why are central banks choosing gold instead of Bitcoin to replace the dollar?"
It is reported that central banks are currently purchasing more than 1,000 tons of gold each year, which is double the average level of the past decade. Bank of America strategist Michael Widmer stated that emerging market central banks currently hold only 10% of their gold reserves, but should increase their target to 30% for greater financial protection.
Schiff also criticized the volatility of Bitcoin, believing that American investors (who hold nearly half of the Bitcoin) may be affected by price fluctuations. [Original link]
