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Economist and market commentator Peter Schiff speculated on Tuesday on the potential implications of Bitcoin’s (CRYPTO: BTC) latest crash on the broader risk asset market.
Will It Get Worse For Risk-On Assets?
In an X post, Schiff wondered if the decline is a “harbinger” of a broader downturn in risk assets, or if it would remain a “one-off” event within the cryptocurrency sphere.
“Whichever it is, we should find out soon enough. Maybe it will also be a catalyst to drive investors into value and safety.” the Bitcoin critic said.
Schiff’s remarks appeared to suggest capital reallocation into precious metals such as gold and silver, which he views as safe havens.
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