The value of digital currencies cannot be on par with gold, veteran stock broker and CEO of Euro Pacific Capital, Peter Schiff, told RT's Keiser Report as they discussed the recent #DropGold campaign. Last week, a New York-based crypto-asset investment firm Grayscale Investments (Grayscale), ran a TV commercial, showing people pulling shopping cart full of gold bars, trying to convince investors that bitcoin is "displacing gold" as we live in a "new financial era." The "ridiculous" advertisement is just a farce, according to Schiff, who stressed that cryptocurrencies, and bitcoin in particular, have nothing in common with the precious metal and have "no intrinsic value" other than people willing to buy it.
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