The eternal Bitcoin skeptic, Peter Schiff, is at it again. This time, he’s questioning whether Bitcoin is truly the digital gold everyone claims it to be.
And honestly, who can blame him? The cryptocurrency’s been on a textbook rollercoaster ride lately, leaving many wondering if it’s really a reliable hedge against inflation.
Tell me you don’t understand Bitcoin without telling me you don’t understand Bitcoin
Schiff’s not just poking fun, he’s in fact got some solid points. As inflation rises and fears of stagflation grow, Bitcoin’s growth seems to be slowing down.
XThat’s not exactly what you’d expect from something touted as a safe haven. And let’s not forget those Strategic Bitcoin Reserve plans, Schiff thinks they might not be as effective as hoped. His parting shot?
“Bye bye Strategic Bitcoin Reserve.”
Daily drama
But the crypto community isn’t having it. On-chain analyst Erik Huisman fired back, suggesting Schiff is just looking at the surface while others are playing the long game.
Dan Held joined in, mocking Schiff with a cheeky image.
Meanwhile, Juraj Bednar noted that Bitcoin’s doing just fine when measured against gold. It’s clear Schiff’s comments never go down well in crypto circles.
I can barely notice a dip. Mostly goes up in gold terms. pic.twitter.com/qJT07ZxCmh
— Juraj Bednar (@jurbed) March 29, 2025
What’s interesting, though, is that Schiff surprised everyone by expressing interest in holding Bitcoin himself.
Talk about mixed signals! Right now, Bitcoin’s price is all over the place. It briefly hit $88,000, then dropped to $83,000 before recovering slightly.
So, is Schiff’s skepticism justified, or is he just stirring the pot? After all, rumors say he had Bitcoin before, but he lost his keys.
Game theory, supply, and demand
The truth is, Bitcoin’s volatility is nothing new, and that’s part of its charm. But when someone like Schiff questions its status, it makes many wonder, is Bitcoin truly the digital gold we think it is?
Or is it just a flashy investment that’s more about hype than substance?
The Bitcoin rollercoaster is still running, and it’s anyone’s guess where it’ll end up next. But hey, that’s what makes it so exciting, right? And as for Schiff? Well, he’s just keeping things interesting.
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