Chatgpt Pretty Intelligent, Did Not Recommend Bitcoin, Peter Schiff Tweets

Economist Peter Schiff praised the artificial intelligence of the Chatgpt assistant for omitting bitcoin in a suggested “recession-proof” portfolio. The long-time gold proponent commented on a report claiming the chatbot has recommended “massive allocations” in precious metals.

Rigorous 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 prompted to advise about a recession-resistant investment portfolio. Linking to an article about the test in a tweet on Thursday, Schiff noted:

#ChatGPT AI is pretty intelligent after all. It didn’t recommend any allocation to #Bitcoin.https://t.co/mnhRN2TmFm

— Peter Schiff (@PeterSchiff) April 6, 2023

The referenced experiment has been conducted by a platform offering information on gold IRA (individual retirement account) investments. According to a blog post, the artificial intelligence (AI) chatbot was asked to produce example allocations “resistant to boom and bust cycles.”

According to a press release by Gold IRA Guide, Chatgpt suggested 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-resistant portfolio.”

The announcement details that the allegedly “ideal model” included 40% bonds, such as fixed-income government and corporate bonds, and 30% blue chip stocks like healthcare, utilities, and essential consumer goods. For cash and its various equivalents — U.S. dollars, money market funds, and certificates of deposit — were reserved as 10% of the portfolio.

Gold and other precious metals, in the form of physical and “paper-backed” gold and silver assets, including gold ETFs and mining stocks, got 20%. “This figure far exceeds the number proposed by prominent ‘gold bug’ wealth managers such as Ray Dalio and Peter Schiff,” the authors remarked.

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 statements came after the most popular precious metal broke the $2,000 mark earlier this week.

Do you agree with the allocations in the AI-suggested investment portfolio and with Peter Schiff? Share your thoughts on the subject in the comments section below.