Citing Bitjie, economist Peter Schiff forecasts a bleak four-year outlook for Bitcoin, claiming its 'digital gold' theory has failed. He argues Bitcoin's purchasing power against gold has dropped 46% from its 2021 peak. Meanwhile, Bloomberg analyst Mike McGlone labeled Bitcoin 'dead money,' citing high risk and low returns.
Peter Schiff Predicts 4 Years of Poor Bitcoin Outlook, Bloomberg Calls It 'Dead Money'
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Summary
Bitcoin news highlights a grim market outlook as Peter Schiff predicts four years of poor performance, claiming the "digital gold" narrative has collapsed. He notes Bitcoin’s purchasing power versus gold has fallen 46% from its 2021 high. Bloomberg’s Mike McGlone also dismissed Bitcoin as “dead money,” citing weak returns and high risk. Market outlook remains bearish from these key voices.
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