Peter Schiff: Bitcoin's Break Above $72,000 Is a Fakeout, Recommends Selling Bitcoin and Buying Gold

Odaily Planet Daily News: Economist and Bitcoin critic Peter Schiff stated that Bitcoin's break above $72,000 is a "fakeout" rather than a genuine breakout. After the U.S. Treasury announced it would double the size of each bond buyback to $4 billion, Bitcoin's price rose from below $65,000 to above $71,000.

Schiff believes that the Treasury's buyback program has failed to prevent U.S. Treasury yields from continuing to rise, and that the scale of buybacks may need to be expanded further, potentially requiring the Federal Reserve to initiate a formal quantitative easing program. He advises investors to sell Bitcoin and buy gold. (Bitcoin.com News)