Peter Schiff Challenges Bitcoin’s Inflation-Hedge Narrative Amid Nasdaq Correlation Claims

Gold advocate Peter Schiff has reignited his critique of Bitcoin’s role as an inflation hedge, asserting that its price movements mirror tech stocks more than traditional safe-haven assets like gold. Despite Bitcoin’s 14% rally in April 2025, Schiff argues that the cryptocurrency remains closely tied to the Nasdaq’s performance, undermining its reputation as a store of value. This ongoing debate highlights the evolving perception of Bitcoin in the financial markets as it navigates between being a speculative asset and a hedge against inflation.

Peter Schiff Challenges Bitcoin’s Inflation-Hedge Narrative

Gold advocate Peter Schiff has renewed his criticism of Bitcoin’s perceived role as an inflation hedge, arguing its price action aligns more closely with tech stocks than traditional stores of value. Despite BTC’s 14% April rally, Schiff maintains the cryptocurrency remains tethered to Nasdaq’s performance rather than exhibiting gold-like characteristics.

"Bitcoin has not decoupled from the NASDAQ," Schiff stated, dismissing claims of BTC’s maturation into a stable value-preservation asset. His comments highlight the ongoing debate between crypto proponents and traditional precious metals investors regarding optimal inflation protection strategies.

The economist attributes Bitcoin’s recent gains to speculative trading and macroeconomic sentiment rather than inherent value appreciation. Schiff’s warnings emphasize volatility concerns during economic turbulence, positioning Gold as his preferred long-term safeguard against purchasing power erosion.

US Unlikely to Expand Bitcoin Holdings Amid Debt Concerns, Says Arthur Hayes

BitMEX co-founder Arthur Hayes has cast doubt on the United States increasing its Bitcoin reserves, citing the nation’s fiscal constraints. The US government currently holds 198,012 BTC, valued at over $18 billion, acquired through seizures rather than open-market purchases.

"The United States is a deficit country," Hayes stated in a May 1 interview. He argued that maintaining existing confiscated bitcoin constitutes the only plausible strategy for a US "strategic reserve," dismissing the notion of active accumulation. Political optics also pose a barrier—Hayes questioned whether elected officials would risk associating with the "Bitcoin bro" stereotype through public acquisition plans.

Bitcoin Surges as Enthusiasts Embrace Its ‘Digital Gold’ Status

Bitcoin’s price rally underscores its growing acceptance as a digital store of value, with market sentiment shifting decisively in its favor. The cryptocurrency, now trading at $96,341, reflects renewed investor confidence amid broader financial uncertainty.

Pseudonymous analyst Dave the Wave notes Bitcoin’s resilience during market turbulence, attributing its strength to its dual role as both a currency alternative and a hedge asset. This narrative gains traction as capital migrates from traditional instruments toward crypto markets.

BitMEX Co-Founder Arthur Hayes Dismisses U.S. Government Bitcoin Reserve Plans

Arthur Hayes, former CEO of BitMEX and a prominent figure in cryptocurrency markets, has publicly rejected the notion of the U.S. government acquiring Bitcoin for national reserves. The derivatives exchange pioneer—who built BitMEX into a Leveraged trading powerhouse—remains skeptical of institutional adoption at sovereign levels.

Hayes’ comments come amid growing speculation about nation-state Bitcoin accumulation. His Wharton-educated perspective carries weight in crypto circles, where he’s known for market-moving commentary and strategic investments in emerging projects.

Block to Launch Open-Source Bitcoin Mining Chip in 2025

Jack Dorsey’s Block, formerly known as Square, is making a bold MOVE into Bitcoin mining with the development of an open-source mining chip named Proto. Slated for release in 2025, the chip aims to disrupt the $3–$6 billion mining hardware market, long dominated by industry giants like Bitmain, MicroBT, and Canaan.

During Block’s Q1 2025 earnings call, CEO Jack Dorsey confirmed the project remains on schedule, attributing the smooth progress to domestic manufacturing within the United States. By avoiding reliance on international suppliers, Block sidesteps potential disruptions from global trade tensions or tariff wars.

Dorsey emphasized close collaboration with vendors and manufacturers, underscoring Block’s commitment to vertical integration. The move signals a strategic push to decentralize Bitcoin mining hardware production, potentially reshaping industry dynamics.

French Tech Firm Pivots to Become Europe’s First Bitcoin Treasury

The Blockchain Group (TBG), a previously obscure French tech company, has reinvented itself as Europe’s first public firm centered on Bitcoin as a Core asset. Shedding its legacy software and consulting operations in late 2023, TBG adopted an unconventional strategy—issuing equity at premium prices to accumulate Bitcoin without diluting shareholder value.

The gamble paid off: in just six months, the company reported a 709.8% surge in Bitcoin yield per share, independent of BTC price volatility. Dubbed a ’Bitcoin factory’ by crypto observers, TBG’s radical pivot underscores growing institutional creativity in digital asset exposure.