This news highlights the observation made by Peter Schiff regarding the market cap of Bitcoin relative to gold. Despite Bitcoin's price increasing from $69,000 to $98,000, its market cap has shrunk in relation to gold's, prompting Schiff to question why Bitcoin's share of gold's value is decreasing. While Bitcoin has outperformed gold since January 2023, it has failed to surpass gold's peaks and decouple from it. Schiff's skepticism is echoed by market analyst Peter Brandt, who sees this as a crucial test for Bitcoin's long-term narrative as the ultimate store of value. Bitcoin bulls argue that the cryptocurrency is still maturing and heading towards eventual dominance, but Schiff's question remains unanswered.



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