As reported by TheMarketPeriodical, Peter Schiff, a prominent gold advocate, has urged investors to 'Sell Bitcoin, Buy Silver' following a 17% surge in silver prices in November. Bitcoin, in contrast, has dropped by the same magnitude this month, while silver hit a new all-time high above $55 per ounce. Market researchers at The Kobeissi Letter noted that silver ETFs account for only 0.3% of ETF assets, suggesting the metal remains underowned despite its strong performance. Schiff highlighted that Bitcoin is now the mirror image of silver, with the latter up 95% year-to-date compared to Bitcoin’s 4% decline. Analysts warn that if Bitcoin and Ethereum continue to underperform major asset classes like the S&P 500 and gold, it could weaken demand for the cryptocurrencies.
Peter Schiff Advises 'Sell Bitcoin, Buy Silver' as Silver Surges 17% in November
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