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Peter Schiff once again criticized Bitcoin, pointing out that Bitcoin’s losses appear to be more severe when measured against gold, as Bitcoin has lost about 40% of its value compared to gold in recent months.
Schiff believes that this decline reveals what he calls the digital gold myth, predicting that if Bitcoin continues its downward trend, it will erase its 2025 gains.
His comments came after Bitcoin fell below $90,000 for the first time in seven months, while gold held above $4,000 an ounce.
Bitcoin’s strength against gold has also fallen from 33 ounces in March to just 22 ounces currently.
Despite criticism, Michael Saylor continued to support Bitcoin and increased his holdings in the company, purchasing $830 million worth of Bitcoin.
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