If You Had Ignored This Gold Bull's Advice And Invested $100 In Bitcoin In Mid-January, Here's How Much You'd Have Now

Economist and gold bull Peter Schiff on Jan. 12 took to Twitter to advise his followers to sell their Bitcoin BTC/USD holdings.

What Happened: He said that Bitcoin’s price had already broken down and suggested investors should turn to gold instead. 

Schiff tweeted that Bitcoin is trading above $18,000, its highest level in three weeks and he suggested that it was an excellent opportunity for “HODLers” to sell ahead of the release of the December CPI. 

In contrast, gold was only up $10, trading at an 8-month high, which he believed would be a more stable investment for those looking to diversify their portfolios and protect their wealth.

Bitcoin’s closed the day on Jan 12, hovering around $18,800, according to CoinMarketCap.

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Why It Matters: However, investors who chose to ignore Schiff’s advice are now reaping the rewards of their decision. Since Jan 12, the value of Bitcoin has increased by over 40%.

If you had ignored Schiff’s advice and invested $100 in Bitcoin on Jan. 12, you would now have approximately $141.

Price Action: At the time of writing, BTC was trading at $26,411.75, down 2%, in the last 24 hours, according to Benzinga Pro.

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