Peter Schiff calls Bitcoin a total scam, attributing its rise to government-fueled money flows. He argues that it is not a safe haven or store of value, but rather a speculation-supported trade.
Schiff promotes gold as the only reliable protection during inflation, noting that Bitcoin behaves more like a tech stock. Despite price fluctuations, Bitcoin is detached from gold’s stability.
Schiff doubts Bitcoin’s future as a base-layer currency, viewing it as hype without real backing. He disagrees with government involvement in cryptocurrencies, perceiving it as promoting speculative ventures.
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