From Investing.com: 2024-05-04 14:00:19

Billionaire investor Anthony Scaramucci clashed with top analyst Peter Schiff in a live debate over whether Bitcoin (BTC) or gold serves as a better inflation hedge. They were joined by ShapeShift CEO Erik Voorhees and NYU economics professor Nouriel Roubini.

Schiff argued that Bitcoin is not digital gold and lacks intrinsic value compared to physical gold with tangible utility in industries like jewelry and electronics.

Schiff emphasized gold’s enduring value as a genuine store of value, contrasting it with Bitcoin’s perceived value based on speculative demand without inherent usefulness.

Scaramucci defended Bitcoin as “digital gold” due to its deflationary aspect from a fixed supply, noting its portability and potential long-term value trajectory akin to tech stocks. BTC surged past $63,000 following a cooler-than-expected US April jobs report, easing concerns about interest rate hikes.

Read more at Investing.com: Peter Schiff and Anthony Scaramucci Clash in Epic Debate By U.Today