In this video, I discuss Peter Schiff's views on gold and Bitcoin.

While I agree with Peter Schiff about physical gold being a good hedge against monetary inflation, I disagree with his view on Bitcoin. I believe that Bitcoin is a better form of money than gold-- is it more portable, more easily divisible, and less easy to confiscate. Bitcoin is a better store of value than gold, because Bitcoin is even more scarce than gold (BTC has a higher stock to flow than gold).

Schiff has been saying that Bitcoin is a "bubble" since at least 2013. Since then, it has risen from $400 to $12,000, and Schiff has been unable or unwilling to modify his views. As a result of confirmation bias and cognitive dissonance, Schiff has now reach the point of absurdity-- claiming that gold is not valuable due to its scarcity, and also claiming that gold is more difficult to confiscate than Bitcoin.

Not investment advice! Consult a financial adviser.

Peter Schiff:
https://en.wikipedia.org/wiki/Peter_Schiff

Schiff Gold:
https://schiffgold.com/

Peter Schiff calls Bitcoin a bubble:
https://www.cnbc.com/2013/11/12/peter-schiff-calls-bitcoin-bubble-tulip-mania-20.html

https://twitter.com/BitcoinMemeHub/status/1243251061768552454/photo/1

https://www.coindesk.com/bitcoin-bear-peter-schiff-doubles-even-4000-still-bubble

Another wrong Peter Schiff prediction:
https://cryptopotato.com/this-is-why-bitcoin-will-plunge-after-the-2020-halving-according-to-peter-schiff/

Gold more difficult to confiscate than Bitcoin?
https://cointelegraph.com/news/peter-schiff-gold-harder-to-confiscate-than-bitcoin-as-searches-spike

"Gold is not valuable because it's scarce":
https://twitter.com/PeterSchiff/status/1294735621035089926

Bitcoin stock to flow cross asset model:
https://medium.com/@100trillionUSD/bitcoin-stock-to-flow-cross-asset-model-50d260feed12

Confirmation bias and cognitive dissonance:
https://www.nytimes.com/2017/05/22/smarter-living/why-its-so-hard-to-admit-youre-wrong.html

From Tesla Bear to Bull:
https://www.youtube.com/watch?v=_Wzi2zABF5I

Matthew Kratter is the author of the Amazon best-seller "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guide-Stock-Market-Everything-ebook/dp/B07S31TBF5

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