Bitcoin ETFs See Record Inflows while Gold ETFs Bleed, Liquidity Rotation in Play
While BlackRock’s Gold ETF has registered major outflows in 2024, its Bitcoin ETF stands tall at first place with $4.8 billion in flows so far in 2024.
Peter David Schiff is an American libertarian, stock broker, financial commentator, economist and radio personality.
Peter David Schiff is an American libertarian, stock broker, financial commentator, economist and radio personality. He is CEO and chief global strategist of Euro Pacific Capital Inc., a broker-dealer based in Westport, Connecticut. He is the founder of Euro Pacific Canada Inc., now known as Echelon Wealth Partners Inc., headquartered in Toronto, with offices in Burlington, Ontario; Montreal; Vancouver; and Tokyo. He is also the founder and chairman of Euro Pacific Bank, offshore bank founded in St. Vincent and the Grenadines, relocated to San Juan, Puerto Rico in 2017; founder, CEO, and chairman of Euro Pacific Asset Management, LLC., an asset management company founded in Newport Beach, currently relocated to Dorado, Puerto Rico, since 2013; and founder and chairman of SchiffGold, a precious metals dealer based in Manhattan.
Schiff is the principal host of The Peter Schiff Show podcast, which was formerly broadcast on terrestrial and Internet radio, and he was formerly host of an Internet podcast called Wall Street Unspun, now archived as podcasts. He has appeared as a guest on numerous business and financial television shows and has been quoted in major print publications as a financial analyst.
Schiff has repeatedly held bullish views on long-term investments in foreign stocks and currencies in countries with sound fiscal and monetary policies as well as global commodities including physical precious metals and has expressed bearish views on the US economy and the US dollar. Schiff voices strong support for the Austrian School of economic thought which was introduced to him by his father Irwin Schiff. In 2010, Schiff ran in the Republican primary for the United States Senate seat in Connecticut, but he lost to Linda McMahon and came in third.
Euro Pacific Capital Inc.
Mar 23rd, 1963
American
New Haven, Connecticut, United States
Haas School of Business of UC Berkeley (B.S.)
Euro Pacific Capital - CEO
SchiffGold - Chairman
Shearson Lehman Brothers - Stockbroker - 1990s
While BlackRock’s Gold ETF has registered major outflows in 2024, its Bitcoin ETF stands tall at first place with $4.8 billion in flows so far in 2024.
Schiff also criticized mainstream media coverage of Bitcoin ETFs, noting that many analysts expressing caution now did not offer such warnings before their launch.
The approval of spot Bitcoin ETFs was anticipated to be a positive catalyst for Bitcoin’s price. However, the reality has been starkly different, with Bitcoin experiencing a decline.
Several market analysts believe that the Gold price rally can continue further with the potential to hit $2,2000 by the end of 2024.
While Peter Schiff thinks Bitcoin price will crash before the ETF launch in the United States, analysts at AllianceBernstein issued a prediction of $150k in 2025 driven by the halving event and institutional inflows.