Peter Schiff “Bitcoin is a cult… Gold is the only real store of wealth”

Peter Schiff Still Doubting The Value Of Bitcoin (Source: Coindoo)

Prominent Bitcoin Skeptic Peter Schiff Once Again Unleashed Strong Criticism Of Cryptocurrency On The Stage Of The 'Bitcoin 2025 Conference'. As The CEO Of Euro Pacific Capital, He Argued At The Event Held In Las Vegas That “Bitcoin Is An Asset Without Intrinsic Value And Does Not Create Real Wealth. The Bitcoin Community Bears A Similar Resemblance To A Cult, That Is, A Religious Group.”

He Drew The Line That Bitcoin Could Hardly Be Considered A Technological Innovation. Instead, It Has A Structure Similar To A Meme Coin, And He Emphasized That The Current Cryptocurrency Market Operates By Having Initial Investors Transfer Wealth To Subsequent Investors.

Schiff Further Stated, “The Fact That Central Banks Around The World Are Still Purchasing Gold Is An Important Signal,” Claiming That The Status As A Traditional Key Asset Belongs Only To Gold. Such Remarks Of His Are Interpreted As A Representative Voice Of The Conservative View Of Assets That Still Exists Despite The Rise Of Bitcoin.