Peter Schiff is well-known for his criticism of Bitcoin (BTC). In his latest jab, he commented on the AI chatbot, ChatGPT, and its unpopular decision of not recommending Bitcoin in a suggested recession-proof portfolio. In ChatGPT's portfolio, bonds have a 40% allocation, defensive stocks have a 30% allocation, and Gold has a 20% allocation, with the remaining 10% allocated to cash.

Despite Bitcoin’s increasing equity in the mainstream finance world and its impressive performance over the past decade, the AI chatbot failed to designate any allocation to the digital currency. This has caused many to direct their attention to the assumed vendetta Bitcoin may be facing against unidentified forces.

The criticism of ChatGPT by Schiff is warranted and serves as a reminder that the advancements in AI technology can still be prone to biases that lead to algorithmic decision making errors. Therefore, when creating an investment portfolio, it is paramount to not only factor in the AI's insights but also supplement it with manual factual research.

Relying solely on automated investments may be risky as with any form of investing. This is especially true in the case of Bitcoin, as the cryptocurrency is volatile and unpredictable. While the AI chatbot may not have recommended Bitcoin, the risk-averse investor should take caution when investing, rather than quickly disregarding the potential rewards that lie with this digital asset.



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