Peter Schiff Urges Bitcoin Holders to Sell and Buy Silver

Key Points

1. Peter Schiff urges Bitcoin holders to sell BTC and invest in silver, predicting a major price increase for silver once it surpasses $40.

2. Bitcoin hit a new all-time high of $118,254, but Schiff claims it is still underpriced compared to silver, which was trading above $37 and up nearly 2%.

3. Schiff believes silver could quickly rise to $50 if it breaks past $40, with mining stocks also benefiting from this movement.

4. Despite Schiff's warnings, Bitcoin's market cap ($2.20 trillion) remains higher than silver's ($2.007 trillion), ranking sixth among global assets.

5. Crypto community members criticized Schiff's advice, referencing his past incorrect predictions about Bitcoin's price and questioning his stance on its intrinsic value.