Legendary trader Peter Brandt and long-time crypto skeptic Peter Schiff have clashed heads over the BTC/Gold debate.

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It started with Schiff pointing to Bitcoin ETF weak performance, according to the financial expert, with gains under 10% since its launch. Gold, on the other hand, is up 24%.

As of today's close, Bitcoin ETF gains since launch have been reduced to just under 10%, while $GLD is still up 24%. Therefore, investors made 140% greater returns by buying #gold instead of #Bitcoin. https://t.co/nX66MU2n57— Peter Schiff (@PeterSchiff) September 6, 2024

Brandt replied, urging to look at the Gold/BTC debate with a long-term perspective. According to the chart shared by Brandt, a Head and Shoulders pattern is forming, favoring BTC rather than Gold futures.

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To that, Schiff replied that he views the same chart in favor of Gold.

Peter, your comments need to be put into the perspective of a long term chart. The $BTC/GC_F ratio could dip into the high teens, but massive continuation inverted H&S is forming -- favoring Bitcoin https://t.co/Gld8cb2RQV pic.twitter.com/rwJgY24b57— Peter Brandt (@PeterLBrandt) September 6, 2024

Gold is traditionally seen as a safe-haven asset in volatile economic times and tends to rise when inflation rises. Currently, institutional investors view Bitcoin as a rick asset, while many think of BTC as “digital gold” that will replace the precious metal.

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