The post Bitcoin v. Gold: This Is the New Safe Haven, Says Peter Schiff appeared on BitcoinEthereumNews.com.

Peter Schiff, a renowned critic of Bitcoin (BTC), has hinted that gold has displaced the leading digital cryptocurrency as a store of value. In a post shared on X, Schiff noted that geopolitical events in the Middle East have exposed the strength of different assets. Schiff Says Middle East Conflict Exposed Real ‘Safe Haven’ Asset According to Schiff, the recent conflict between Israel and Iran has had a ripple effect on the price of oil, gold, and Bitcoin. He noted that following the resumed conflict, oil prices gained 5% and later climbed to 10% profit as supply fears rose. Similarly, the price of gold recorded an uptick by as much as 1.8% as investors entertained fears of economic instability in the coming days. Image Source: Peter Schiff on X Notably, gold has long been considered a traditional ‘safe haven’ and attracts capital during times of crisis as investors accumulate the asset. Comparatively, Bitcoin did not register gains amid this development in the financial space. Rather, Bitcoin lost 2.5% of its value instead of appreciating. The same pattern played out with the S&P futures, which fell by 1.8% as investors moved funds out of stocks. Schiff argues that Bitcoin cannot claim the status of being a ‘safe haven’ asset given the current development exposed by the conflict in the Middle East. He insisted that if Bitcoin were truly ‘digital gold’, it would not depreciate during global tension but rise like gold. The vocal Bitcoin critic implies that BTC behaves like a risk asset, just like stocks, and not a safe-haven asset like gold. Treasuries Dumped as Central Banks Pivot to Gold Peter Schiff buttressed his stance further by highlighting developments with the U.S. Treasuries and global central banks. He noted that there has been a great selloff of U.S. government bonds,…

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Filed under: News - @ June 14, 2025 4:26 pm