Schiff: Bitcoin is not skyrocketing

Peter Schiff disputes the claim that Bitcoin is experiencing a dramatic increase in value, despite its recent price reaching 105,000 USD before a slight correction. On Tuesday, Bitcoin hit an intraday high of 104,836 USD, just 3.8% away from its all-time peak.

Schiff links Bitcoin’s recovery to increasing yields on 10-year U.S. Treasury notes, suggesting diminishing confidence in the dollar. He emphasizes that the effects of de-dollarization will be significant.

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