Schiff: ‘Bitcoin Is Losing’

In a manner as droll as it is candid, Peter Schiff—the ever-so-elegant maestro of Euro Pacific Asset Management—has declared that Bitcoin is rather losing ground to the perennial allure of gold. 😌

One must note, with a certain wry amusement, that this verdict is drawn from the rather dismal theatrics of Bitcoin’s price, which seems to have forgotten its lines in this grand drama. 🙄

Earlier today, gold ascended to a breathtaking new high of $3,176, while our dear Bitcoin lingers nearly 30% short of its February peak—a performance as tragic as it is ironic. 😉

And, as the ever-reliable CoinGecko informs us, Bitcoin is currently sashaying at $78,669 after taking a deliberate plunge to that very figure. One might applaud such consistency were it not so lamentable! 😜

China is Not Buying

With the finesse of a seasoned raconteur, Schiff dismissed the notion that China might purchase Bitcoin to rival the U.S. “Darling, they’re hardly obtuse; in fact, they’d rather sell it to us,” he quipped with characteristic cheek. 😏

U.Today has it on record that our financial pundit previously noted China’s rather brisk exit from its Bitcoin holdings—a move executed with all the hasty elegance of a well-timed curtain call. 😅

To further enhance this theatrical spectacle, Wyoming Senator Cynthia Lummis forecasted an arms race over Bitcoin between China and the States—a prediction as dramatic as it is delightfully absurd. 🎭

A Bear Market Rally?

Following Tuesday’s grand relief rally, the U.S. stock market has decided to take a nosedive once again this Thursday. The S&P 500, ever the capricious ingénue, has plummeted by 3.46%, effectively erasing a sizable portion of its earlier triumphs. 😬

Schiff, with his customary mordant wit, labeled the Wednesday frolic a “bear market rally” and suggested that it is, indeed, not “too late” to exit the stage with one’s stocks—lest the ensuing drama become unbearable. 🐻✨

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2025-04-10 23:50