Peter Schiff slams Bitcoin—again—says strategy will ‘go bankrupt’

Peter Schiff continues to attack Bitcoin, labeling it a “fraud”. He argues that it does not serve the purpose of digital gold, instead acting like a risky tech stock with no potential earnings.

Schiff predicts that Michael Saylor’s Strategy, which holds 531,644 BTC valued over 35 billion USD, will likely go bankrupt due to its exposure to Bitcoin, despite the cryptocurrency’s impressive 36% rise over the past year.