Prominent economist Peter Schiff cautioned investors against holding cash as a long-term strategy, warning of significant purchasing power erosion amid growing inflation concerns.
What Happened: The outspoken financial commentator and Bitcoin (CRYPTO: BTC) skeptic responded to an X user who expressed anxiety about investing their $20,000 savings, stating, “I think investing in cash is one of the riskiest bets you can make. You may not lose any money, but your money will lose most of its purchasing power.”
Schiff’s remarks came as part of a broader discussion about U.S. Treasury yields and monetary policy. He noted that while 10-year Treasuries were yielding 4.25%, he anticipates higher yields due to mounting national debt and expanding budget deficits.
“When the economy officially enters the next …
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