Washington fueled the Bitcoin bubble, Peter Schiff says
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In an interview with Cointelegraph, economist Peter Schiff warns that Bitcoin’s gains are built on political and Wall Street support that may not last.
In an exclusive interview with Cointelegraph, veteran economist and gold advocate Peter Schiff issued one of his starkest warnings yet about Bitcoin’s future, and the powerful forces he believes have inflated it.
Schiff argues that the latest Bitcoin (BTC) bull market isn’t organic, but rather propped up by political influence in Washington, DC and Wall Street’s self-interest. Despite being proven wrong multiple times in the past, Schiff is doubling down on his statement that Bitcoin is a “bubble” and will eventually “go to zero.”
The economist challenges the mainstream narrative that Bitcoin protects investors from inflation or dollar weakness, warning instead that the same institutions Bitcoin was meant to disrupt are now the ones keeping it alive.
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