Gold Overtakes Euro! Peter Schiff Snaps, “Where’s Bitcoin?” 🤔💰

Oh, hold onto your hats, ladies and gents! The shiny, glorious gold has gobbled up the euro’s spot in the piggy bank and strutted into second place as the most important reserve asset. That’s right, gold now makes up a whopping 20% of all those gigantic central bank reserves — leaving the euro choking at a modest 16%. Thanks to sky-high gold prices and central banks going on gold-shopping sprees like kids in a candy store, gold’s having a real moment in the sun. 🤑✨

And who’s watching all this with a mischievous grin? Why, none other than Peter Schiff himself! The gold-loving, gold-crazy man from Euro Pacific Asset Management, who just couldn’t resist poking the digital bear with a witless comment: “Where’s Bitcoin?” Like a cartoon villain twirling his mustache, he’s throwing jabs at the crypto crowd while clutching his gold bars tight. Naturally, he’s still screaming from the rooftops that Bitcoin is a big, fat nothing, a bubble, a digital mirage. “I don’t consider Bitcoin to be digital gold,” he says, like a man stubbornly clutching his gold nugget in a storm. 🏆🤨

Why Is Gold Such a Glittering Star Right Now? 🤩

In 2024, gold prices shot up almost 62%, soaring to a shiny $3,509.90 per ounce — more than enough to make you want to dance around a bonfire of fiat currencies! Since Russia’s invasion of Ukraine, global chaos, inflation nightmares, and a distrust of paper money have everyone rushing to stash their riches in the glittering stuff. Countries like China, Turkey, India, Poland, and Azerbaijan are stuffing their vaults with more gold than a dragon guarding its treasure. Over 1,000 metric tons were added last year alone — talk about gold fever! 💥

Bitcoin’s Bumpy Ride: From Hero to Sidekick? ⚡

Surprisingly, no big country has officially started calling Bitcoin their reserve buddy. Well, except for El Salvador, that brave little country that declared Bitcoin legal tender back in 2021. Since then, they’ve been sneaking BTC into their treasury, even though by early 2025, they quietly decided to stop making it a must-have. The IMF, those fancy loan people, had some conditions, so El Salvador’s reserves of about 6,100 BTC sat quietly for a while. Meanwhile, U.S. lawmakers are busy dreaming up a ‘Bitcoin Reserve Bill’ — like a plot straight out of a Dahl adventure — to see if Bitcoin can become a serious reserve asset someday. Who knew that one day, Uncle Sam might be taking Bitcoin seriously? 🇺🇸🤑

So, while Bitcoin is making headlines, dancing in investor circles, and even sneaking into official debates, it’s still playing second fiddle to good old gold in the grand, serious world of central banks. For now, at least.

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2025-06-11 23:07