Schiff: Bitcoin Not a Real Asset, Inflation Hedge or AI Boon
Gold investor Peter Schiff has criticized Bitcoin, saying it's not a real asset and should not be compared to gold, equities, or real estate. He responded to crypto analyst Quinten Francois' post that highlighted the size disparity between these assets, saying 'Bitcoin is not a real asset so its value has no relationship to gold, equities or real estate.'
Schiff also disputed Bitcoin's reputation as an inflation hedge, arguing that investors seeking protection against rising prices should instead choose traditional precious metals like gold and silver. He claimed that those who chose Bitcoin over these assets 'are making the wrong choice.'
In addition to his criticism of Bitcoin, Schiff also pushed back against attempts to associate it with the AI boom, saying 'AI isn’t bullish for Bitcoin; it’s a threat to it.'