Noted economist Peter Schiff criticized investors for disregarding gold’s record highs due to the Bitcoin (CRYPTO: BTC) frenzy.
What Happened: Schiff took to X to point out that gold had reached another record high but the significance of this rise was being overlooked due to the overwhelming focus on Bitcoin.
“Gold just hit another record high, but few investors notice or care. With so much attention focused on Bitcoin, investors are not only missing out on gold’s gains, but the significance of the rise,” the staunch Bitcoin critic argued.
He further warned that gold’s rise indicates that money policy is too loose and inflation is set to increase.
Full story available on Benzinga.com