Peter Schiff: Bitcoin is not a real asset

U. Today reported that Peter Schiff, a long-standing Bitcoin critic, had once again attacked encrypted money, arguing that Bitcoin should not be compared with traditional assets such as gold. He noted that the market for gold was about 20 times larger than that of a bitcoin, that the global stock market was about 100 times that of a bitcoin and that the global real estate market was more than 250 times larger. “bitcoin is not a material asset and therefore its value has nothing to do with gold, stocks or real estate”. He also questioned the idea that Bitcoin should be used as an inflation hedge tool, arguing that investors should choose traditional precious metals over bitcoin. Shiv stressed that investors holding bitcoin might have missed better investment opportunities。