Gold Bug Peter Schiff claims that Bitcoin's annual profit of 60 % was achieved in the first 5 weeks of the year -
Gold Bug Peter Schiff claims that Bitcoin's annual profit of 60 % was achieved in the first 5 weeks of the year -
Gold-Bug Peter Schiff claimed that Bitcoin has increased by 60 % in the past twelve months, but most of these profits were achieved in the first five weeks of the year in 2021. It insists that the majority of those who bought the asset in 2021 did not win.
Bitcoin wins higher than that of gold
Since the calendar year ends and Bitcoin has increased by more than 60% since last January, one of the main critics of the crypto asset, Peter Schiff, claimed in a tweet that this profit was only achieved in the first five weeks of 2021. Schiff argues that the majority of the people who bought the digital asset in 2021 did not win.
Indeed, after the Bitcoin Prize began in 2021 at just over $ 29,300-as shown by Bitcoin.com -more than doubled in mid-April and was almost over 63.500 in mid-April traded. This is in contrast to Schiff's gold, which was traded at around $ 1,900 per ounce at the beginning of the year, but had fallen to USD 1,730 at about the same time.
While the prices of both assets fluctuated during the entire year 2021, the data showed at the end of the year that the crypto-asset had again exceeded gold after recording double-digit growth. This performance indicates that, although it is a very volatile asset, even after February, positive returns were still achieved for investors.
gold, on the other hand, ended the year almost 4% lower, a fact that ship did not mention in one of his last anti-bitcoin tweets from 2021. Instead, he uses the price of the crypto asset in February 2021 to support his argument that Bitcoin did not achieve any positive returns for the majority of investors. Ship said:
Bitcoin bulls on the 60%growth of Bitcoin in 2021 as further proof that Bitcoin is the best asset that can be bought. But all of these growth occurred in the first five weeks of the year. Bitcoin is now lower than in February. The vast majority of the people who bought Bitcoin in 2021 are in the minus.
five -digit profits
In addition to Bitcoin, which ended the year 60% higher than at the beginning, numerous other cryptocurrencies also exceeded gold. Ethereum, which reached an all -time high of $ 4,891 in November, recorded a net profit of over 500%by the end of 2021
also a bitcoin.news Crypto-assets recorded profits of more than 10,000% in the same period.
Schiff's twet has annoyed Bitcoin supporter. For example, in her response to the recent attack of the gold bug to btc asked a Twitter user named Moon landing too many worries Bitcoin do. Another user, Benjamin Cowen, suggested that gold no longer keep up with inflation. He tweeted:
"The vast majority of the people who have bought gold in the past ten years has only observed that it doesn't even keep up with inflation."
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