Schiff Warns: Sell Bitcoin as Gold Surges Past $4,400

Peter Schiff is warning investors to sell Bitcoin and Strategy stock as gold prices surge past $4,400 an ounce. According to Schiff, money is rotating back towards hard assets, with gold and silver hitting multi-week highs.

Gold traded at $4,402.43 an ounce on Tuesday, up 0.28% from the day before, while silver reached a seven-week high of $65.84. Over the past year, gold has gained nearly 29.6%, driven by Chinese institutional demand and steady central bank buying.

Schiff claims that gold's rally is structural, not temporary, citing the metal's history of breaking out before Bitcoin rises. He argues that the more gold goes up, the more Bitcoin will go down.