Peter Schiff, a well-known cryptocurrencycurrency critic, declared silver to be “Bitcoin 2.0” after it had a significant price increase. Silver rose 6% earlier today, while Bitcoin, which had recently surpassed silver’s market capitalization, fell under financial pressure.
This comes after the price reached a record high of $73,000 last month, driven by investor demand for Bitcoin ETFs. However, the rise weakened, and the asset fell to around $65,000 this past Tuesday.
On the other side, silver has been attempting to reach its highest price, but it has yet to surpass its previous record of $46.47 set on March 27, 2011.
Schiff also said that Bitcoin held no value. This is congruent with the views of Kelleher, CEO of Better Markets, who discussed the illegality and futility of the digital currency business on Bloomberg TV.
Gold has also seen a price hike, trading at $2,274, up 1%.
