Mike Novogratz, CEO of financial services firm Galaxy Digital, recently expressed his usual bullish Bitcoin sentiments on CNBC’s Squawk Box morning show. During the short segment, the show’s interviewer asked Novogratz about Bitcoin (BTC) in relation to gold. He noted that big players are seemingly buying crypto after selling their gold investments, with gold recently seeing an all-time high level of outflow. “I think it’s meaningful but it’s not the real story,” Novogratz said on Tuesday morning. “The real story is adoption of Bitcoin, adoption of crypto, across a vast variety of accounts,” he noted, going on to mention Guggenheim's …

Gold bug and Bitcoin skeptic Peter Schiff was just 17 years old when the yellow metal set its true all-time price high. Meanwhile, Bitcoin (BTC), a much younger asset, sits close to its inflation-adjusted all-time high after just three years of downward pressure. Gold reached a price of $678 U.S. dollars in 1980, according to a breakdown from Visual Capitalist. Accounting for inflation, based on calculations from Officialdata.org, $678 in 1980 held the same buying power as approximately $2,142 in 2020. The precious metal technically broke its U.S. dollar all-time high this year, hitting $2,075, according to TradingView data. Its …

Mainstream media outlets are finally reporting on the recent rally that saw Bitcoin creep close to its all-time high — but some commentators appear to be determined to spread FUD. Two articles released within hours of each other earlier today — a Financial Times editorial titled “The elusive promise of Bitcoin,” and a Fox Business piece called “Bitcoin no match for gold in coronavirus world” — state that Bitcoin does not live up to its promise as a store of value. There appears to be coordinated media FUD aimed at #bitcoin today - 2 articles in major media. As bitcoin …

This morning, millionaire broker and noted Bitcoin skeptic Peter Schiff awoke to find his bank under renewed scrutiny due to an international criminal investigation. According to reporting from Australian newspaper The Age and The New York Times, the J5 -- a joint task force of tax authorities from major Western governments convened in the wake of the bombshell publication of the Panama Papers -- have placed “hundreds” of accounts at Schiff’s Puerto Rico-based Euro Pacific Bank under investigation for tax evasion and other financial crimes. The reports detail what appears to be a comically inept organization responsible for harboring the …

The vast majority of Twitter users trust 18-year-old Spencer Schiff’s investment advice over that of his father, Peter Schiff — a renowned gold bug and Bitcoin (BTC) critic. “Against my advice my son just bought even more Bitcoin,” said Schiff, “Whose advice do you want to follow?” Against my advice my son @SchiffSpencer just bought even more #Bitcoin. Whose advice do you want to follow? A 57-year-old experienced investor/business owner who’s been an investment professional for over 30 years or an 18-year-old college freshman who’s never even had a job. — Peter Schiff (@PeterSchiff) September 7, 2020 According to a …

Gold bug Peter Schiff, who has often spoken out against Bitcoin, may be admitting that there’s at least some flaw in his predictions after acknowledging the coin did not “collapse” as gold rose to a new all-time high last month. In a Twitter exchange with Tyler Winklevoss, which began Sept. 6, Schiff traded words with the Gemini co-founder regarding Bitcoin’s rise to a yearly high of more than $12,000 on Aug. 17 and its dip under $10,000 just last week. While Winklevoss predicted the digital asset’s baseline for all future dips would be $10,000, Schiff was decidedly more bearish, stating …

Peter Schiff, a popular mainstream financial commentator and gold advocate, recently told people to send Bitcoin (BTC) to his 18-year-old son. "Since so many of you Bitcoin guys are ribbing me because my son [Spencer Schiff] bought Bitcoin, why not really rub it in by gifting him some as a belated birthday present," Schiff said in an Aug. 27 tweet. "He turned 18 yesterday," Schiff noted. "He won't lose his," he said, posting his son's wallet address. Schiff's tweet points toward an event from earlier in 2020, when the gold aficionado admittedly lost his Bitcoin storage access. “I knew owning …

Bitcoin (BTC) loses to gold when it comes to how easy it is to transport and confiscate, says Peter Schiff. In a tweet on July 29, the gold bug and infamous Bitcoin skeptic claimed that it was easier to move and preserve ownership of the precious metal. Gold is “absolutely transportable” “Gold is absolutely transportable and harder to confiscate than Bitcoin,” Schiff wrote. The comment caused an instant backlash, with BTC proponents immediately highlighting gold’s shortcomings. In addition to being physically bulky and therefore harder to transport, gold has long been extremely difficult to store privately. As Saifedean Ammous noted …

A known gold enthusiast, financial commentator Peter Schiff said Bitcoin (BTC) holders are not actually looking to the asset as a storage of wealth — one of the most commonly touted use cases surrounding the coin. "I buy gold as a way to store my wealth, as a conservative place to keep liquidity, as opposed to keeping it in dollars or some other fiat currency," Schiff told interviewer Peter McCormack, host of the What Bitcoin Did podcast, during a July 17 episode. "I do think that when people are buying Bitcoin, they're really not looking for that," Schiff added. Bitcoin …

Since Bitcoin (BTC) price rallied above $19,000 in 2017, crypto analysts have issued an amazingly wide range of price predictions on the date and value of the next all-time high or low. Sometimes these predictions are rooted in deep fundamental and technical analysis, whereas other times they are simply nothing more than off-the-cuff estimates issued at whim. Options markets provide useful insights into traders' expectations, including mathematical probabilities for an asset's future prices. Using Black & Scholes model allows one to better assess the likelihood of analysts' estimates. The Black & Scholes valuation algorithm has been the basis for the …

Bitcoin (BTC) has succeeded in trolling infamous skeptic Peter Schiff as another attempt to discredit investors falls flat. In a fresh Twitter survey on July 14, Schiff asked how long BTC/USD should trade at four figures or less for investors to sell their coins. “I’m taking it to the grave” With 18 hours left to run at press time, more than 13,000 people had responded to Schiff, who is now well known for his lack of belief in Bitcoin. “This quiz is for Bitcoin HODLers,” he said, addressing his target audience. “How much longer does the price of #Bitcoin have …

The Bitcoin (BTC) versus gold debate rages on this week as reports reveal fake bars fuelled a $2.8 billion corruption scheme. As Chinese media outlet Caixin reported on June 29 via Nikkei, a loans deal between Chinese financial institutions and Wuhan Kingold Jewelry — with gold as collateral — fell apart when it became known the gold was gilded copper. Schiff: Bitcoin holders are “stupid” According to Caixin, “at least some” of the gold bars involved were simply copper, with the loan lenders seriously out of pocket as a result. “That has left lenders holding the bag for the remaining …