According to U.Today, cryptocurrency critic Peter Schiff recently slammed Bitcoin again on the X social media network (formerly Twitter), claiming that the largest cryptocurrency is actually less useful than a pet rock. He said in 2022 that the value of gold comes from its special properties as a precious metal, which is widely used in many industries such as defense, electronics, and medical. However, for Bitcoin, Schiff firmly believes that this flagship cryptocurrency does not have any unique properties. He believes that scarcity is meaningless without practicality. In addition, Schiff also warned participants in the cryptocurrency market that there are too many people who are overly optimistic about Bitcoin at present, and they seem to believe that the price of Bitcoin will rise sharply in this market cycle. However, Schiff pointed out that the market "rarely develops according to speculators' expectations." He hinted that the price of this top cryptocurrency may soon see a sharp correction.