Peter Schiff Labels Bitcoin a "Speculative Asset" Despite Recent Gains – Here’s Why

Schiff’s Latest Bitcoin Tirade: What’s New?

Peter Schiff, the perpetually bearish gold advocate, just can’t help himself. Fresh off Bitcoin’s 20% monthly surge, he took to X (formerly Twitter) to declare BTC a "purely speculative asset" with "no intrinsic value." Cue the crypto crowd’s collective eye-roll. But before you dismiss him as a broken record, let’s unpack his reasoning.

The "Intrinsic Value" Argument – Valid or Vapor?

"You can’t value bitcoin like a stock or real estate," Schiff argued in a recent CNBC interview. "At least gold has industrial uses and 5,000 years of history as money." He’s not wrong about the valuation challenge – even crypto natives admit BTC’s price hinges largely on supply/demand dynamics rather than discounted cash flows.

However, BTCC analysts counter that scarcity (capped at 21 million coins) and decentralized security provide inherent worth. "It’s like calling the Mona Lisa worthless because you can’t live in it," quipped one trader on Reddit.

Performance Paradox: Speculative Asset or Store of Value?

Here’s where Schiff’s logic gets slippery. Bitcoin’s 2025 Q2 gains outpaced Gold (18% vs. 3%), yet volatility remains extreme. Data from TradingView shows BTC’s 30-day volatility at 4.2% versus gold’s 1.1%. "That’s not a hedge, that’s a rollercoaster," Schiff tweeted – though he conveniently ignored gold’s 40% drop from its 2011 peak.

The Institutional Wildcard

BlackRock’s spot Bitcoin ETF approval in January 2024 complicates Schiff’s narrative. With $12 billion in inflows (per CoinMarketCap), institutional adoption suggests growing recognition as a macro asset. "When pension funds allocate to BTC, ‘speculative’ starts sounding outdated," noted Bloomberg Crypto last week.

FAQ: Schiff vs. Bitcoin – Your Burning Questions

Why does Peter Schiff hate Bitcoin?

Schiff views Bitcoin as a "faith-based" challenger to gold’s monetary legacy. His financial interests (he runs a gold investment firm) likely color this stance.

Has Schiff ever admitted being wrong about crypto?

Nope. Even after missing BTC’s 10,000,000%+ lifetime gain, he maintains it’ll eventually crash to zero. Talk about conviction bias.

Should I sell my Bitcoin because of Schiff’s warnings?

This article does not constitute investment advice. That said, Schiff’s track record includes correctly predicting the 2008 crash... and incorrectly calling 12 of the last 3 Bitcoin bear markets.