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Economist Peter Schiff made a Twitter post on Jan. 12 advising his followers to sell their Bitcoins and buy gold. And it is that, at that time, the price of the cryptocurrency had fallen precipitously.
When the price of Bitcoin was around $18,000, Schiff said that it was a good opportunity to sell at once and buy gold. It should be remembered that, just a few months before, the price of Bitcoin reached $68,000 dollars, so its fall had been monumental.
On the other hand, gold rose $10, hitting an 8-month high. Because of this, Schiff believed it would be a more stable investment for those looking to diversify their portfolios and protect their wealth.
On January 12, Bitcoin closed at $18,800, according to the CoinMarketCap portal.
It should be noted that Schiff’s recommendations fell on deaf ears as investors chose to continue buying Bitcoin.
Little by little the value of the cryptocurrency increased until it currently gains 40%.
Taking the above into account, If you had invested $100 in Bitcoin on January 12, you would now have around $141..
If you had invested $1,000, you would have a profit of about $410.
At the time of publishing this note, Bitcoin is trading at $26,411.75 dollars.
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