Peter Schiff, a well-known critic of cryptocurrencies, recently shared his thoughts on the investment recommendations provided by the ChatGPT neural network.
According to Schiff, ChatGPT is “intelligent enough to prefer gold over bitcoin.”
Recently, the Gold IRA Guide published a report on the findings of an experiment that involved asking a chatbot for advice on building a “recession-proof” investment portfolio.
ChatGPT suggested investing in safe stocks, bonds, and gold while keeping 10% of the portfolio in cash.
While the chatbot did not mention cryptocurrencies, Schiff did, and he praised ChatGPT for being smarter than many other investors.
It seems that the chatbot has a particular expertise in precious metals.
When asked to choose between gold or bitcoin, ChatGPT recommended gold as the best choice for stable, long-term investments and suggested that bitcoin is more suited to those who prefer high-risk, high-profit investments.
Schiff has continued to predict the downfall of bitcoin in recent times