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Schiff Warns Bitcoin Could Be 'Rugged' as Gold Tops $4,000

Bitcoin trades near $121,600 after a weekly high above $126,000, reflecting a split in investor sentiment.

Overview

  • Peter Schiff argues Bitcoin is in a bear phase versus gold and says the cryptocurrency has dropped about 20% against the metal since August.
  • He contends Wall Street’s crypto optimism is stretched and predicts a rotation toward bullion as the metal holds above $4,000.
  • Market data show Bitcoin recently pulled back more than 3% on the week, with several large-cap tokens also easing after recent gains.
  • Tech entrepreneur Brian Shuster and investor Paul Tudor Jones present opposing views, citing Bitcoin’s adoption momentum and potential for a powerful rally.
  • A Deutsche Bank research note suggests central bank reserves could include both bitcoin and gold by 2030, signaling a possible dual role in portfolios.