Schiff Warns AI Threatens Bitcoin's Existence
Economist Peter Schiff recently expressed his concerns about the impact of artificial intelligence on Bitcoin's value. He believes that AI is not a catalyst for growth, but rather a threat to Bitcoin's existence.
Schiff made this claim in an X post, where he stated that AI competes with Bitcoin for speculative capital, electricity, and data centers. Additionally, Schiff warned that powerful AI could potentially discover vulnerabilities in Bitcoin's code, cryptography, or network security.
This view is not entirely shared by everyone, as some argue that AI poses a greater threat to gold than to Bitcoin. Q Trader, a BTC maximalist, stated that advanced AI technology could increase gold supply, reducing its scarcity and eventually causing prices to fall.
The impact of AI on cryptocurrency is an ongoing debate, with both positive and negative effects being reported. According to Chainalysis, AI-enabled cryptocurrency scams were 4.5 times more profitable than traditional scams in 2025. However, some platforms have tried to neutralize the AI threat by using AI itself, such as Binance's deployment of over 24 AI-driven initiatives and 100 AI models.