Peter Schiff, a prominent investor of gold and CEO of Euro Pacific Capital, has been criticized by many analysts and experts including Brian Kelly of CNBC for describing Bitcoin as “digital fool’s gold.”
For the most part, Schiff’s ignorance towards Bitcoin stems from his responsibility to protect Euro Pacific Capital’s business model, which almost entirely relies on the performance of gold. Schiff has also found the vast majority of his career success in gold trading and thus, it is essentially instinctive for Schiff to protect gold against Bitcoin.
However, most innovative and successful investors understand that to profit from an ever-changing market, one needs to beat the market. One asset or currency which has beaten the market for three straight years is Bitcoin by outperforming all reserve currencies, stock markets and assets, something gold has failed to do.
Full story at http://bit.ly/2msLJ18
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