all about cryptop referances
Economist Peter Schiff praised the artificial intelligence of the Chatgpt assistant for leaving out bitcoin in a proposed “recession-proof” portfolio. The longtime gold champion commented on a report that claimed the chatbot has recommended “massive allocations” in precious metals.
Staunch crypto opponent Peter Schiff took to social media to highlight a recent report revealing that Openai’s Chatgpt has not considered bitcoin as an option when asked to advise on a recession-proof investment portfolio. Linking to an article about the test in a tweet on Thursday, Schiff noted:
#ChatGPT AI is quite intelligent after all. It recommended no further award #Bitcoin.
— Peter Schiff (@PeterSchiff) 6 April 2023
The referenced experiment is conducted by a platform that offers information on gold IRA (Individual Retirement Account) investments. According to a blog post, the artificial intelligence (AI) chatbot was asked to produce sample allocations “resilient to boom and bust cycles.”
According to a Gold IRA Guide press release, Chatgpt proposed diversification across a range of cash-like assets and commodities. The mix included defensive stocks, bonds, cash and precious metals to create a “truly recession-proof portfolio.”
The announcement describes that the allegedly “ideal model” included 40% bonds, such as government and corporate fixed income bonds, and 30% blue chip stocks such as health care, utilities and consumer staples. For cash and its various equivalents – US dollars, money market funds and certificates of deposit – was reserved as 10% of the portfolio.
Gold and other precious metals, in the form of physical and “backed” gold and silver assets, including gold ETFs and mining stocks, gained 20%. “This number far exceeds the number suggested by prominent ‘gold bug’ wealth managers such as Ray Dalio and Peter Schiff,” the authors said.
Schiff recently predicted that a bull market for gold will lead to even higher prices than currently observed, as Bitcoin.com News reported on Thursday. His remarks came after the most popular precious metal breached the $2,000 mark earlier this week.
Do you agree with the allocations in the AI proposed investment portfolio and with Peter Schiff? Share your thoughts on the topic in the comments section below.
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