Exclusive Interview: Peter Schiff Compares Bitcoin to Cigarettes, Says BTC Has “No Real Value”

Core Viewpoint - Peter Schiff, a prominent economist and gold advocate, remains a vocal critic of Bitcoin, asserting that it is destined to fail while advocating for a tokenized gold payment system as the future of sound money [2][3]. Group 1: Bitcoin Criticism - Schiff believes Bitcoin cannot function as money due to its lack of intrinsic value, arguing that an asset must possess value to be a store of value [6]. - The price of Bitcoin is influenced solely by market forces, making its future value unpredictable and dependent on buyer and seller dynamics [7]. - Despite significant price appreciation over the years, Bitcoin's value is still lower than gold's price from four years ago, raising questions about its long-term viability [5][6]. Group 2: Tokenized Gold Advocacy - Schiff is preparing to launch a tokenized gold payment system aimed at modernizing the circulation of physical gold as money [2]. - He posits that tokenized gold, rather than Bitcoin's digital scarcity, represents a more reliable future for sound money [2].