This weekend’s #Bitcoin crash is an example of why Bitcoin will never be a reserve asset for any major government or central bank. A reserve asset must have relatively low volatility. It needs to be readily sold when needed. It can’t crash more than assets it’s supposed to hedge.
— Peter Schiff (@PeterSchiff) August 5, 2024
Gold is down less than 1%. The Swiss franc is up 1%. The Japanese yen is up 3%. Treasuries are up. Those are all reserve assets.
— Peter Schiff (@PeterSchiff) August 5, 2024
