Peter Schiff says BTC move above $72K is a fakeout, urges buying gold

Peter Schiff, CEO of Euro Pacific Capital and a well-known Bitcoin critic, said BTC’s move above $72,000 was a fakeout rather than a genuine breakout, The Block reported. Schiff said the rally was a temporary move tied to the U.S. Treasury’s announcement of expanded Treasury buybacks and advised investors to sell Bitcoin and buy gold. Schiff has consistently emphasized gold’s investment value over Bitcoin.