Peter Schiff, a well-known proponent of gold and skeptic of Bitcoin, shared his thoughts on inflation, Bitcoin, and the US dollar for 2023.
Weak dollar, strong gold
The U.S. dollar Index may have had a strong year, but it ended the year on a six-month low, down 10% from its Nov. high. This weakness will likely continue in 2023, with the dollar having one of its worst years ever. If I'm right the #inflation problem is about to get much worse.
— Peter Schiff (@PeterSchiff) December 30, 2022
The economist assured his nearly one million Twitter followers that the recent uptick of the US dollar was not indicative of long-term strength. He notes that the dollar index hit a six-month low as 2022 came to a close and that this is the trend he anticipates will continue into 2023.