Peter Schiff applauded Chatgpt for not recommending Bitcoin investments

Peter Schiff applauded Chatgpt for not recommending Bitcoin investments

The famous Goldbug and Bitcoin critic Peter Schiff once again criticized the leading cryptocurrency for not making it on the list of the recession-proof assets recommended by Chatgpt.

In his latest blow to Bitcoin, the American stock exchange and CEO of the Vermögensverwaltungsgesellschaft Euro Pacific Capital said, the chatbot with artificial intelligence (AI) is smart to recommend gold and other investment instruments to Bitcoin.

Recession -safe assets from Chatgpt

ship made the explanation in a tweeting on Thursday with reference to an article from NewStrail that highlighted a breakdown of the recession -proof portfolio recommended by Chatgpt.

According to the report, the bot suggested that investors should invest up to 40 % in bonds, since they contain insignificant risks compared to other assets. The AI ​​tool also proposed a 30 percent allocation in armaments shares, since these are generally less affected by the economic cycle.

Gold and other precious metals appeared next on the list of chatt, with an allocation of 20 % recommended. This exceeds the proposed percentage of prominent gold bugs such as Ray Dalio and Ship, which were proposed. The chat bot found that precious metals, especially gold, are a safe harbor while economic crises.

Finally, the tool of artificial intelligence recommended an allocation of 10 % in cash because it enables investors to use purchase opportunities or to cover unexpected expenses.

ship praises chatgpt

ship commented on the report and noticed that the exclusion of Bitcoin by chatt from his recommended recessive assets shows that the AI ​​was "quite intelligent".

#bitcoin .https: //t.co/mnhrn2tmfm

-Peter Schiff (@peterschiff) 6. April 2023

As a loud Bitcoin critic, ship is often warns investors to avoid the emerging cryptom market. The CEO of Euro Pacific does not believe that Bitcoin fits into the narrative of the inflation protection that the crypto world has given the digital asset.

last month, as Bitcoin in the middle of the US banking crisis, which brought the collapse of several banks, jumped by $ 25,000, affirmed ship that the increase in the BTC price does not mean that it is better than gold. The stock exchange broker believes that, unlike Bitcoin, the precious metal has proven itself again and again for hundreds of decades.

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