Peter Schiff, known for his anti-Bitcoin, said that the asset is heading towards zero.
Speaking in an interview with Ameritrade Network, Schiff urged investors to buy gold before losing everything.
Peter Schiff Recommends Buying Gold
Also known as the “gold bug,” Schiff advised that investors should sell their BTC and buy physical gold before they lose everything.
“My advice to people investing in crypto is to get out of that investment. You can still get almost $17,000 for your worthless Bitcoins. I suggest you sell and buy gold”
According to Schiff, Bitcoin is not a viable investment option as a long-term store of value and hedge against inflation.
“It has no value. It lost two-thirds of its market value”
The statement by Peter Scgiff comes after the market uncertainty caused by the FTX scandals.
The gold advocate continues to target Bitcoin and other cryptocurrencies at every opportunity due to its lack of value and excessive volatility. According to him, gold is a much safer and long-term option.