Peter Schiff shared: When it comes to inflation hedges, ptj_official was wrong to proclaim Bitcoin to be “the fastest horse in the race.” Over the past year, with inflation finally perceived to be a threat, the price of Bitcoin has fallen by 37%. In contrast, the price of gold has risen by 12%!
Community Response:
FED started massively printing exactly 2 years ago Bitcoin +1,000% Gold +10%.
Yes, Bitcoin is up about that much when measured against the low that it crashed to in the early days of Covid. But that’s an irrelevant benchmark to my point, as most investors were still worried about deflation back then.
Investors indeed treat Bitcoin as a risk-on tech stock, rather than an inflation hedge. And that’s ok because, unlike gold, you can make decent money in Crypto. Also, unlike gold, it has real-world utility.
You have that backward. Gold has real-world utility. Bitcoin has none!
Where would you like to have the cherries you have picked delivered?
Gold and inflation got front-run by bitcoin. Smart money knew inflation was coming from March 12th, 2020. Bitcoin has risen by >1,000% since then. Few understand this.
One thing is clear: gold is the slowest horse in the race. Adjusted for inflation, gold is still well below its price in 2011, proving it has been a terrible hedge against inflation and an even worse store of value.
No one stopped calling gold a store of value after it dropped 50% in 2011 because the term describes the preservation (or growth) of purchasing power over the *long term*. By this standard, Bitcoin is the best store of value that has ever existed.
“Bitcoin has replaced gold as the repository of safety.” – Jim Cramer.
FINANCIAL NEWS: Russian government is broke and needs money asap. They have a huge stockpile of gold so they thought they’d be OK, at least for a while. However, no one is willing to buy Russian gold right now – they’ve been discounting it 20% and still barely any buyers.
Bitcoin is a non-economic good, according to the Austrian Economic father, CarlMenger. Non-economic goods are available in larger quantities than the requirements for them. Bitcoin, one of 18,000 cryptocurrencies, clearly meets this definition.
This might be the worst take I’ve ever seen. You’re out of your mind if you think bitcoin is a non-economic good go read a textbook.
Funny. If you were only talking gold and didn’t mention BTC you would prob get sub 100 responses. I don’t for one minute believe you believe what you say but it has certainly paid off for you! Of your 700k followers, I imagine most are crypto fans.
BTC is people’s money and we will make it more worthy than 1 million $.
Please explain this. If only 21 million bitcoin are to be mined and billions live on the Planet how is it the People’s Money? All that’s happening is a change of guard who becomes the New 1%. Even if it only hits 100,000 a coin no poor or middle-class person could afford one.
1BTC = 100.000.000 Satoshi’s that’s 100 million! You don’t have to own a whole BTC! Here is your answer!
Thank You for being kind when answering. I already know this. In my opinion, buying pieces of bitcoin at obscured prices doesn’t change the fortunes of the poor or Middle Class. For early adopters, it changed fortunes and lives.
BTC is good at skyrocketing and crashing in relative purchasing power Real Money is a constant and doesn’t crash or rise. Real money is stable. “Inflation hedges” don’t rise and fall by huge percentages. There is no such thing as gaining “free” purchasing power.
Steven is a technology-focused writer with a strong interest in emerging digital trends and innovation. With experience spanning both travel and online projects, he brings a global perspective to his reporting and analysis. His work reflects a practical understanding of how technology, markets, and digital platforms intersect, offering readers clear insights into developments shaping the modern tech and crypto landscape.
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