Schiff Admits Bitcoin Could Have Been Lucrative But Warns of AI Threat

Peter Schiff, a well-known Bitcoin skeptic, acknowledged that he could have made a lot of money investing in BTC over the past five years. However, he claims that the true losers are the 'Bitcoin HODLers' who refused to sell their coins.

Schiff has been vocal about his disdain for Bitcoin, repeatedly warning investors not to buy into its rallies and instead using its struggles as a reason to push gold as a safer store of value. He believes that AI poses a bigger threat to Bitcoin than it does a boost, citing the competition for speculative capital, electricity, and data center space.

According to Schiff, the 'Bitcoin HODLers' who refused to sell their coins have left even more money on the table by not taking advantage of the price swings. This claim comes as AI-driven inflation pressure has helped keep Bitcoin range-bound in recent months.