ChatGPT prefers to choose gold over Bitcoin (BTC) as part of its "recession-proof" portfolio.
ChatGPT Chooses Gold Over Bitcoin (BTC)
The ChatGPT AI tool appears to have picked a side in the long-running debate over the value of gold versus Bitcoin as a solid investment.
Financial commentator Peter Schiff praised the leading generative text engine for favoring gold.
"Artificial intelligence is pretty smart," he tweeted. “It did not offer any allocations to Bitcoin.”
The investor cited a report from last week that covered ChatGPT's idea of a "recession-proof" portfolio.
The document, published in the "Gold IRA Guide", alleged that ChatGPT had proposed a 20% allocation to gold and other precious metals to minimize the impact of any market downturns.
The remainder of his hypothetical portfolio consisted of bonds (40%), "solid" stocks (30%) and cash (10%). Bitcoin was never mentioned.
Still, the AI bot's response may not be a critique of crypto or support for gold.
Asking ChatGPT directly on April 6 his opinion on "Gold or Bitcoin," he said which one to buy ultimately depends on your investment goals.
"Gold is a tangible asset that is considered a safe-haven investment in times of economic uncertainty," said ChatGPT. "Gold is a limited resource and difficult and expensive to mine, which gives it a certain level of scarcity and intrinsic value."
Gold and Bitcoin are often compared as forms of money because of the scarcity of their strong monetary properties that theoretically make them resistant to inflation or monetary depreciation like fiat currencies.
Both assets rallied in March after the Federal Reserve bailed out Silicon Valley Bank by injecting hundreds of billions of dollars into the banking system to prevent similar bank failures.
*Not investment advice.
