Amid gold reaching new highs above $3,500, Peter Schiff — a prominent gold advocate and Bitcoin critic — argued that the precious metal is money, fueling backlash from the crypto community.
“Gold is not just any commodity, it’s money,” Schiff wrote in an X post on April 22 after gold prices briefly broke above $3,500.
While praising gold, Schiff sounded the alarm about the state of the economy, emphasizing that gold’s abnormal rally in the past few weeks holds negative implications for the US dollar.
Source: Peter Schiff
“This is the end of the US dollar’s dominance. Life in America is about to change in ways few can imagine,” he stated.
Gold is up 31% YTD, USD is down 9%
Schiff’s comments came amid gold futures surging to a record-breaking $3,500 on April 22, while spot gold has yet to touch