“Could Silver Outshine Bitcoin?” – Peter Schiff’s Surprising Take

by

Peter Schiff, the well-known crypto skeptic, has recently made an intriguing statement. He suggested that silver might just be the “Bitcoin 2.0″ – not as a “Bitcoin killer”, but as a potential candidate for a significant price jump, akin to Bitcoin’s explosive rallies.

Is this a jest or a genuine prediction? Schiff clarifies, “Just a joke. It means that silver may make a big move up, similar to prior big up moves made by Bitcoin.”

Expanding the discussion to the broader economic landscape, Schiff highlights an interesting observation. Despite weak retail sales data, traders seem more attentive to stronger export price inflation. This, according to Schiff, could be indicative of a larger trend.

Delving into the world of precious metals and cryptocurrencies, Schiff notes that stagflation – a mix of weak growth and inflation – is typically more favorable for gold. However, this could potentially be a bullish scenario for Bitcoin as well, given that the “money printer” option is often seen as most bullish for cryptocurrencies and risk assets overall.

Comparing the numbers, the difference between Bitcoin and silver is evident. Since the start of 2024, BTC has surged by 121%, while silver has only increased by 37%. Over the past two years, the gap has widened even more: Bitcoin has soared by 486%, while silver is up just 55%.

Does this mean silver will not catch up? Not necessarily. It simply highlights Bitcoin’s dominance in the past few years.

So, could silver outshine Bitcoin? Only time will tell. Until then, let’s enjoy the spectacle and the occasional crypto-bashing from Schiff.

Read More

2025-02-14 19:19