Economist Peter Schiff questions Bitcoin's value: Central banks choose gold over Bitcoin

Mars Finance News: Economist Peter Schiff questioned the future value of Bitcoin on social media, pointing out that global central banks are increasing gold reserves instead than buying Bitcoin.. Bitcoin. Schiff raised the question: "If Bitcoin is the future, why do central banks choose gold instead of Bitcoin to replace the US dollar?" According to reports, central banks are currently purchasing over 1,000 tons of gold annually, which is twice the average level of the past decade. Bank ofAAmerica strategist Michael Widmer stated that emerging market central banks currently hold only 10% of gold reserves but should aim to increase this to 30% to obtain greater financial protection. Schiff also criticized Bitcoin's volatility, believing that US investors (who hold nearly half of Bitcoin) may be affected by price fluctuations.