Peter Schiff issued a dire warning to Bitcoin investors on their 'last chance' to sell and buy this asset instead
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Bitcoin is firing on all cylinders. Year to date, the price of the world’s most prominent cryptocurrency has surged by more than 56%.
While 2024 is shaping up to be a year of optimism and growth for Bitcoin, economist Peter Schiff, has a stark warning for its investors.
“Attention Bitcoin #HODLers. This may be your last change to sell your #Bitcoin and buy some #gold and #silver at favorable prices. If you fail to act, have fun staying poor,” the CEO and chief global strategist at Euro Pacific Capital said in a recent post on X (formerly Twitter).
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“HODL,” an acronym for “hold on for dear life,” is a popular slang term used by crypto enthusiasts. It refers to the act of buying and holding an asset for the long term, undeterred by market swings.
As before, Schiff's cautionary stance sharply contrasts with the optimistic predictions of cryptocurrency bulls.
Here are a few assets you can add to your portfolio instead.
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Precious metals to the rescue?
Bitcoin is often heralded as digital gold. The prevailing bullish sentiment surrounding Bitcoin hasn't swayed Schiff's skepticism about its future prospects.
Gold is regarded as a hedge against inflation for a simple reason: It can’t be printed out of thin air like fiat money. Last year, Schiff renewed his call for investors to consider gold, suggesting that the metal was underpriced.
The enthusiasm of investors has indeed propelled the price of gold to record levels with the precious metal recently surging past the $2,300 per ounce mark.
These days, there are many ways to gain exposure to gold and silver. You can own bullion, buy shares of precious metals mining companies or ETFs, or even consider a Gold IRA through Goldco
Opting for a Gold IRA gives you the opportunity to diversify your portfolio, stabilize your finances and secure your retirement for whatever the future may bring.
As one of the country’s most trusted precious metals companies – with an A+ rating from the Better Business Bureau – Goldco has helped thousands of clients protect their retirement.
Opt for safer returns
If you take Schiff’s crypto hesitancy to heart, you can explore other investment options outside of Bitcoin that offer diversification and consistent, passive income.
Real estate has long proven to provide solid appreciation, along with attractive tax breaks and portfolio diversity. However, this asset has also proven inaccessible to people as it often requires you to be ultra wealthy or have enough time on your hands to play landlord.
But, investment platforms like Arrived are making real estate accessible to retail investors.
If you’re keen on getting into the world of rental real estate — without the work that comes with being a landlord — then consider purchasing shares of rental properties through through the easy-to-use platform.
Backed by world-class investors like Jeff Bezos, Arrived makes it easy to add rental properties into your investment portfolio by offering a lower minimum investment.Get started by browsing a curated selection of homes, vetted for their appreciation and income potential.
Then, all you have to do is sign on the dotted line and begin receiving quarterly deposits from your property’s rental income.
You aren’t limited to residential real estate either.
With First National Realty Partners, accredited investors can invest in necessity-based commercial real estate without having to find the deals yourself.
FNRP’s team of experts have developed relationships with the nation’s largest essential-needs brands, including Kroger, Walmart and Whole Foods and they will act as the deal leader through their entire life cycle while you passively collect distribution income.
And don’t worry, if real estate isn’t your thing, there are other alternative assets — like fine art — that can help you build your wealth and hedge your portfolio. Fine art has long been touted as a solid inflation hedge, but the barrier to entry has limited this asset to the ultra-wealthy.
With Masterworks — an online investment platform — allows you to buy and sell shares of fine art pieces so you no longer have to be a millionaire to invest in paintings by iconic artists like Banksy and Basquiat.
But now, with Masterworks, you can add some colour to your portfolio without shelling out millions at an auction.
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This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
