Peter Schiff’s Latest Bitcoin Tirade: Compares BTC to Cigarettes, Claims ’No Real Value’
Gold bug Peter Schiff just threw another match on the crypto bonfire. In an exclusive interview, the perennial Bitcoin critic doubled down on his favorite hobby—declaring the world's largest cryptocurrency utterly worthless.
The 'Digital Cigarette' Comparison
Schiff didn't mince words. He drew a direct parallel between Bitcoin and cigarettes, arguing both are consumed based on perceived value rather than any intrinsic worth. It's a classic argument from the old-guard finance playbook—if you can't hold it or staple a coupon to it, it must be imaginary.
The 'Value' Void
The core of his critique hinges on a traditional definition of 'real value'—one rooted in physical assets, cash flows, or government mandates. By that narrow yardstick, Bitcoin obviously measures zero. Of course, that same yardstick failed to measure the internet, social networks, or any software before it printed revenue.
A Provocative Closing Shot
Schiff's stance remains a stark contrast to the trillions flowing into digital asset markets. It's the ultimate finance sector irony: the loudest critics often provide the best stress test for a technology's foundational beliefs. Whether you see a revolutionary protocol or a speculative puff of smoke depends entirely on which century's economics textbook you're reading.
