Peter Schiff Challenges Bitcoin’s Wealth Creation Narrative Amid BTC Price Surge

Economist Peter Schiff has reignited his long-standing skepticism towards Bitcoin, disputing claims that the cryptocurrency generates wealth. This comes after Senator JD Vance’s comments at the Bitcoin 2025 conference in Las Vegas, where proponents highlighted Bitcoin’s potential for wealth creation. Schiff, however, took to social media platform X to argue that Bitcoin merely facilitates wealth transfer rather than actual wealth creation. "No actual wealth was created," he asserted, pointing out that early adopters profited at the expense of later investors. Despite Schiff’s criticism, Bitcoin’s price remains robust, trading at 108,272.72 USDT as of May 29, 2025. The debate underscores the polarizing views on Bitcoin’s role in the financial ecosystem, with proponents seeing it as a revolutionary asset and skeptics like Schiff dismissing it as a zero-sum game. This ongoing discourse highlights the need for investors to critically evaluate Bitcoin’s long-term value proposition amidst its volatile price movements.

Peter Schiff Challenges Bitcoin Wealth Creation Claims After Vance’s Speech

Economist Peter Schiff has sharply criticized assertions that Bitcoin generates wealth, following Senator JD Vance’s remarks at the Bitcoin 2025 conference in Las Vegas. Schiff, a long-time Bitcoin skeptic, argued on social media platform X that the cryptocurrency merely facilitates wealth transfer rather than creation. "No actual wealth was created," he wrote, emphasizing that early adopters benefited at the expense of latecomers.

The debate highlights broader tensions around cryptocurrency’s role in the economy. Schiff also took aim at the TRUMP administration, urging policymakers to address underlying economic issues rather than promoting bitcoin as a hedge against poor fiscal management. His comments reflect growing scrutiny of crypto’s macroeconomic impact as adoption spreads.

Market Stalls After FOMC, Why We Believe The Rally Will Resume

Federal Open Market Committee minutes reveal a hawkish stance as inflation and recession concerns persist. Despite this, corporate and institutional demand for Bitcoin remains robust, signaling underlying confidence in the asset class.

Market momentum has paused, with selective altcoins showing outperformance. The divergence suggests investors are rotating capital into high-conviction plays while awaiting broader directional cues.

Top Bitcoin Price Predictions from Bitcoin Conference 2025: Experts Forecast $170K to $13M

The Bitcoin 2025 Conference in Las Vegas concluded with high-profile speakers, including US Vice President JD Vance and MicroStrategy’s Michael Saylor, sparking bold price predictions for Bitcoin. Despite recent volatility—a 3.4% weekly drop and 1.2% daily decline—experts attribute the movement to post-event corrections and macroeconomic tensions, urging cautious optimism.

Institutional sentiment shifted markedly, with speakers projecting Bitcoin’s value between $170,000 and $13 million. These forecasts reflect growing institutional and governmental recognition of Bitcoin’s long-term potential, even as short-term market dynamics remain unpredictable.

Bitcoin Lags Behind Stocks as Court Overturns Trump Tariffs

A US federal court has struck down President Donald Trump’s controversial tariffs, ruling they exceeded constitutional authority. The decision throws global trade negotiations into disarray and sparks a rally in traditional markets.

S&P 500 futures surged 1.3% on the news, while Bitcoin’s muted 0.4% gain highlights a rotation back into rate-sensitive assets. The divergence suggests investors see the ruling as reducing trade war risks that have weighed on markets for months.

The court found Trump’s use of emergency powers for tariffs lacked legal basis, undermining his entire trade policy framework. Though the WHITE House has appealed, markets are responding to the immediate implications - with equities, oil, and the dollar all showing relief.

US Labor Dept Rescinds Biden-Era Crypto Restrictions for 401(k) Plans

The U.S. Department of Labor has withdrawn its 2022 guidance discouraging cryptocurrency investments in 401(k) retirement plans. This reversal removes previous warnings about volatility and regulatory risks, potentially opening the door for fiduciaries to include Bitcoin and other digital assets in retirement portfolios.

Secretary of Labor Lori Chavez-DeRemer criticized the earlier stance as government overreach, emphasizing that investment decisions should rest with plan fiduciaries rather than federal bureaucrats. The department has now returned to a neutral position, neither endorsing nor opposing crypto in retirement plans.

The MOVE signals growing institutional acceptance of digital assets, particularly Bitcoin, as legitimate investment options. Market observers anticipate this could lead to increased mainstream adoption and new retirement product offerings from financial providers.