Peter Schiff’s cryptocurrency criticism seems to change his opinion on the Bitcoin. The economist, who previously described the cryptocurrencies of the national threat, now says that he understands Bitcoin.
After years of criticism of cryptocurrencies, can we expect Schiff to launch his own cryptocurrency? “An ordinary launch,” says.
Schiff attacks against stablecoins
Peter Schiff seems to have taken a tour of his posture on cryptocurrencies. Thus, although Schiff no longer completely excludes Bitcoin, it has nothing to say about the stable currencies linked to the US dollar.
Last week wrote a post in x in which he said that altcoins “are not at all stable in practice”, and the doubt of the usefulness of the tokens which, ultimately, continue to depend on a fiduciary currency which, in their opinion, is about to collapse. “If you still think of dollars, why use cryptocurrencies?” Schiff supports.
For this same reason, it is favorable to a digital currency supported by physical gold. That, he says, would combine the advantages of blockchain technology with the reliability of gold as a reserve of value.
Although Schiff declares that it already exists, it involved in a Post and x He plans to launch his own token supported by Gold. In addition, he did not reveal any details on this plan, in particular in which phase it is located or on what date his token will be launched.
Bitcoin Farm Critique
Peter Schiff is known as a firm critic of cryptocurrencies and generally attracts attention with his controversial and unsuccessful opinions. During the Bitcoin 2025 conference a few weeks ago, Schiff said Bitcoin is the same and described the Bitcoin community sect. In doing so, he argued that Bitcoin had no intrinsic value and compared the currency with an asset that produces nothing and has no physical application. According to him, it makes him inappropriate as a source of true wealth.
The same thing sometimes does with cryptographic investors. Schiff predicted that Michael Saylor will break With its business strategy, which bets entirely for Bitcoin in the form of large investments. In the podcast in which he made this declaration, he also declared that Bitcoin was fraudulent and does not believe that the comparison of “digital gold” is valid.
Bitcoin is sold as a digital gold version, but does not behave like that, ”explains Schiff.
It remains to be seen if Schiff will really launch his own cryptocurrency.
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