Peter Schiff, a popular crypto-critic, posted on Twitter proclaiming silver as “Bitcoin 2.0” as it has shown a high price leap. Silver jumped 6% earlier today, while Bitcoin, which recently outstripped silver’s market capitalization, weakened under financial pressure.
This came after the price made a record high closing above $73,000 last month, which was caused by investors’ demand for Bitcoin ETFs (Exchange Traded Funds). However the rally turned weak, and the asset dropped to about $65,000 this past Tuesday.
On the other hand, silver has been trying to reach its highest price, but still, it couldn’t reach its previous record of $46.47 that was achieved on March 27, 2011.
Schiff also argued that Bitcoin had no value. This is consistent with the thoughts made by Kelleher, CEO of Better Markets, who also addressed the illegality and futility of the digital currency sector on Bloomberg TV.
Gold has also shown a price gain as it is currently trading at $2,274, an increase of 1%.
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