Bitcoin Slumps Below $64K Amid Gold Rally, Peter Schiff Lashes Out

Bitcoin's price has taken a significant drop below $64,000 after being rejected at $65,200 earlier in the day. The sudden move sparked a response from prominent gold and cryptocurrency critic Peter Schiff.

Schiff took to social media to share his views on Bitcoin's performance, comparing it unfavorably with gold. He noted that while gold rebounded from its recent low, gaining 8% within a week as central banks continued to accumulate the precious metal, Bitcoin remained in the red on a year-to-date scale.

In a series of posts, Schiff labeled Bitcoin 'anti-gold,' suggesting that it has historically performed poorly when gold is strong. He also pointed out that Strategy's recent decision to sell its fourth $BTC holding this year indicates a lack of confidence in Bitcoin as collateral for lending.