September 24, 2021

Peter Schiff wins debate over whether gold is a better store of value than BTC

Gold proponent and crypto skeptic Peter Schiff has been crowned the winner of a debate on whether gold is a superior store of value to Bitcoin.

Schiff was facing off against Skybridge founder and former politician Anthony Scaramucci in a debate hosted by Intelligence Squared on Aug 25.

Before the gold vs Bitcoin debate began, a poll scored 38% of the online audience in favor of the precious metal, 26% for BTC and 35% as undecided. Schiff was able to swing a significant number to the precious metal by the end, with final results tallying in at 51% for gold, 32% for BTC and 17% undecided.

Scaramucci kicked things off by asserting that BTC’s value is derived from its network which enables peer-to-peer transactions without a third party. He also suggested that BTC has an edge over gold because of its scarcity and digital properties:

“I think this cryptocurrency revolution and Bitcoin specifically, because of its scarcity, is going to…

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