Peter Schiff claims Bitcoin will not play a significant role during the current trade tensions between the US and India, suggesting that local currencies and gold will be favored instead. He argues tariffs imposed on India primarily tax American consumers, increasing the cost of goods.
With Bitcoin trading around 115,000 USD, Schiff indicates its role in the global economy is still under scrutiny. He warns that while Bitcoin may be considered a safe option by some, its instability may deter many from fully trusting it over traditional assets such as gold.
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