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 breakout above $72,000 is a "fakeout" rather than a genuine rally. After the U.S. Treasury announced it would double the size of its bond buyback operations to $4 billion each time, the price of Bitcoin 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 in the future, along with the Federal Reserve launching a formal quantitative easing program. He advises investors to sell Bitcoin and buy gold. (Bitcoin.com News)