00:00It's Benzinga bringing Wall Street to Main Street.
00:02Bitcoin critic Peter Schiff wore that a brutal bear market could be imminent after the cryptocurrency fell 32% against gold since August, according to Post.x.
00:10Schiff urged investors to sell Bitcoin for gold, arguing the two are moving in opposite directions as this post drew over 100,000 views.
00:17Joe Hill mocked Schiff as outdated, suggesting gold could fall if Bitcoin does, while the Bitcoin therapist considered moving fully into gold.
00:24Tony Edward countered that a liquidity shift could soon let Bitcoin in the wider crypto market outperform gold.
00:30Schiff claimed the trend reflects both de-dollarization and de-Bitcoinization, arguing that Bitcoin has failed as a dollar alternative and digital gold.
00:38Gold has reached repeated record highs near $4,300, while Bitcoin has dropped 10% in the past week.
00:43The number of small Bitcoin wallets has continued to increase despite the pullback.
00:47For all things money, visit Benzinga.com.
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