The ChatGPT artificial intelligence program appears to have chosen a side in the age-old argument between bitcoin and gold as a wise investment. The well-known generative text engine is hailed by financial analyst Peter Schiff for allegedly favoring gold.\u00a0 After all, “AI is pretty intelligent,” he wrote in a tweet on Wednesday. It did not advise investing in Bitcoin.<\/p>\n
The investor cited a story from the previous week that discussed ChatGPT’s notion of a “recession-proof” portfolio. According to the document, which was printed in “Gold IRA Handbook,” ChatGPT advised a 20% allocation to gold and other precious metals to lessen the effects of any single market slump. Without mentioning Bitcoin<\/a>, the rest of its fictitious portfolio was made up of bonds (40%) “conservative” equities (30%), and cash (10%).<\/p>\n Yet, the AI bot’s response might not always be a criticism of cryptocurrencies<\/a> or a support for gold. ChatGPT said that the decision of whether to purchase Bitcoin or Gold ultimately relies on your financial objectives when\u00a0 explicitly questioned it on April 6 about “Gold or Bitcoin.”<\/p>\n According to the report, “Gold is a tangible asset that is regarded as a safe-haven investment during periods of economic instability. Gold is a restricted resource that is difficult and expensive to mine, giving it a certain sense of scarcity and intrinsic worth. Bitcoin, which “is not backed by any tangible asset or government” and is “considered by many to be a speculative investment,” was contrasted with historical money by the bot. The report concluded:<\/p>\n “Gold may be a better option for individuals searching for a reliable, long-term investment, whereas Bitcoin may be more appropriate for those looking for a high-risk, high-reward investment opportunity.”<\/p><\/blockquote>\n However, it should be emphasized that the corpus of knowledge on which ChatGPT is built is only up to date through 2021 and most likely excludes the considerable up- and down-movements in the price of Bitcoin that have occurred subsequently.<\/p>\n Investors in both gold and bitcoin are doing very well this year, with each asset up 10% and 68% so far. According to a tweet from Schiff on Thursday, the former just broke over a multi-year resistance mark around $2,000 per ounce, which might now act as the “launch pad for a moonshot.”<\/p>\n #ChatGPT<\/a> AI is pretty intelligent after all. It didn't recommend any allocation to #Bitcoin<\/a>.https:\/\/t.co\/mnhRN2TmFm<\/a><\/p>\n — Peter Schiff (@PeterSchiff) April 6, 2023<\/a><\/p><\/blockquote>\n\n