Gold Bug Peter Schiff Slams Bitcoin as ’Giant Cult’

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Gold Bug Peter Schiff Slams Bitcoin as ’Giant Cult’—Doubles Down on Shiny Rocks

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2025-05-29 14:59:14

Peter Schiff Calls Bitcoin a ’Giant Cult,’ Doubles Down on Gold

Bitcoin critics just got fresh ammunition—Peter Schiff, Wall Street’s resident gold evangelist, just torched crypto’s flagship asset as a ’giant cult’ during a recent rant. Meanwhile, his precious metal portfolio keeps gathering dust in a vault somewhere.

Schiff’s latest broadside comes as no surprise—the man’s made a career out of hating anything that isn’t physical, scarce, and utterly useless in a digital economy. But hey, at least gold has that 5,000-year track record of... being heavy?

Funny how the ’barbarous relic’ crowd never mentions that Bitcoin’s outperformed gold by orders of magnitude since both existed. But sure, keep stacking those paper-backed metal certificates while the rest of us code our way to generational wealth.

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