Peter Schiff Calls Bitcoin a "Pretend Wealth" Scheme: Is It All Hype? 💥

Peter Schiff, the outspoken economist and Bitcoin skeptic, is at it again. This time, he’s throwing shade at Bitcoin HODLers, claiming they’re just pretending to be rich. According to Schiff, the value of Bitcoin is nothing more than a collective illusion—a digital mirage built on hype and speculation.

While gold has tangible, real-world uses, Schiff argues that Bitcoin's value is entirely speculative. He even compares it to the infamous .com bubble, which inflated until it burst, leaving many with massive losses. Will Bitcoin face a similar fate? 🤔

Key Points from Schiff’s Critique:

No Tangible Value: Bitcoin isn’t backed by physical assets or fundamentals.

Speculative Bubble: Driven by hype, not by real-world utility.

Gold vs. Bitcoin: Gold holds value in industries; Bitcoin’s value is all in the mind.

Schiff may have his doubts, but the question remains: Does Bitcoin have what it takes to stand the test of time?

What do you think—are we witnessing a revolution or a risky gamble?

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