Peter Schiff Challenges Bitcoin’s Future as Central Banks Choose Gold
In post on X, Schiff questioned why global central banks are accumulating gold instead of Bitcoin if BTC is truly poised to replace traditional monetary systems.
“If gold is the past and Bitcoin is the future, why are foreign central banks that are preparing for a future where the U.S. dollar is no longer the reserve currency, replacing their dollar reserves with gold and not Bitcoin?” Schiff asked.
His comments come as central banks worldwide continue to increase their gold holdings in response to growing geopolitical uncertainty, inflation concerns, and the gradual erosion of trust in the U.S. dollar’s long-term dominance. The ongoing accumulation of gold—seen in nations like China, India, and Russia—underscores the precious metal’s enduring role as a hedge against financial instability.
