Peter Schiff Calls Bitcoin a Fake Asset, Gold and Silver Surge?

Jakarta, Pintu News – Peter Schiff, a well-known Bitcoin critic, has again attacked the cryptocurrency amid a significant price drop. Bitcoin experienced a 5% drop earlier this week, dropping below the crucial $90,000 mark and trading at $86,547, according to data from TradingView. Schiff stated that this decline is not because Bitcoin is a risky asset, but rather because it is a fake asset.

Schiff Calls Bitcoin a Fake Asset

In a series of criticisms of Bitcoin, Peter Schiff has called the cryptocurrency a “fake asset” rather than a risky asset. According to him, Bitcoin’s recent price drop is unusual for a risk asset. He compared the situation to the NASDAQ, which only fell less than 2% from its highest peak, while Bitcoin fell about 28% under similar conditions.

This decline according to Schiff shows that there is more than just risk aversion going on. It’s a move from fake assets to real assets, which he says are more reliable and stable in the long run.

Business Strategy, Ponzi or Not?

Schiff also accused a company called Strategy of having no other income than from selling Bitcoin. He said the company operates like a Ponzi scheme, which can only pay dividends by selling more preferred shares. This opinion was not well received by some members of the crypto community, who explained that Strategy is not a scam, but a very risky investment.

Read also: Elon Musk’s Prediction: “Money Will Be Extinct, Bitcoin Is King”

Despite the controversy, some analysts point out that the business model as implemented by Strategy is indeed high-risk and requires careful management to avoid financial failure. This approach has led to debates about sustainability and ethics in the management of crypto investments.

JGBs, Gold and Silver Dominate Risk Assets

Schiff not only compares Bitcoin to other mainstream digital assets, but also to gold and silver. For example, he points out that the 10-year Japanese Government Bond (JGB) yield is 1.84% and rising, which is causing investors to sell their riskier assets. This suggests that investors may prefer investments that are considered safer such as bonds or precious metals.

In addition, Schiff noted that the future of stocks fell along with Bitcoin and other cryptocurrencies, while gold rose by more than $20 at the time of his post and was trading for $4,240. Silver also saw a gain of $1.20 during the same period and was trading at $57.50.

Conclusion

Peter Schiff’s criticism of Bitcoin and other cryptocurrencies highlights the uncertainty that still exists in this market. While there are those who support the technology and potential of cryptocurrencies, there are still strong arguments that consider them to be highly speculative and risky investments.

FAQ

Who is Peter Schiff?

Peter Schiff is a well-known Bitcoin critic who often expresses his skeptical views on cryptocurrencies.

What is the current Bitcoin price?

Bitcoin is currently trading at $86,547, after a 5% drop.

What comparison does Schiff make between Bitcoin and NASDAQ?

Schiff compared Bitcoin’s 28% drop from its peak, while the NASDAQ only dropped less than 2% from its peak.

What are Schiff’s allegations against the Strategy company?

Schiff alleges that Strategy operates like a Ponzi scheme, with no other revenue other than from selling Bitcoin.

How do gold and silver perform according to Schiff?

According to Schiff, gold gained more than $20 and was trading at $4,240, while silver gained $1.20 and was trading at $57.50.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• Coinedition. Schiff Calls Bitcoin Fake, Labels MicroStrategy a Ponzi Scheme. Accessed on December 2, 2025
• Featured Image: Bitcoin news