Famous gold bug and bitcoin critic Peter Schiff has once again blasted the leading cryptocurrency for not making it to ChatGPT’s recommended recession-proof assets list.
In his latest jab against Bitcoin, the American stockbroker and CEO of asset management company Euro Pacific Capital said the artificial intelligence (AI) chatbot is smart for recommending gold and other investment vehicles over Bitcoin.
Schiff made the statement in a tweet on Thursday while referencing an article by Newstrail, which highlighted a breakdown of ChatGPT’s recommended recession-proof portfolio.
According to the report, the bot suggested that investors allocate up to 40% to bonds because they carry insignificant risks compared to other assets. The AI tool further suggested a 30% allocation to defense stock since they are generally less affected by the economic cycle.
(by Mandy Williams)
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