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Peter Schiff: Bitcoin a ‘Fraud,’ Strategy Will Probably Go ‘Bankrupt’

The foreign equities and gold bug investor with over a billion dollars in assets under management took a big swipe at Bitcoin and Michael Saylor’s BTC-accumulating finance company, formerly named MicroStrategy. He said Strategy will go bankrupt over Bitcoin. But if this is reverse psychology, it must be working on Saylor. His company still hasn’t stopped racing other firms for more BTC in whale-sized bites. Peter Schiff Pulls No Punches on BTC in X Spaces Gag To start off the program , Schiff said Bitcoin’s promoters sold it as a kind of digital gold, but it hasn’t performed like the precious metal at all, so the “marketing” was a “fraud.” “The idea that it’s digital gold has been destroyed because it trades nothing like gold. It’s just some kind of risk asset.” But, Bitcoin’s promoters did not say it would perform as an investment with ROIs like gold. They said it is similar in its economic properties to the metal because of its limited supply and the difficulty and cost of securing it. While it is true that Bitcoin’s price lately has not traded like gold, that’s because over timescales very relevant to individual investors it has performed fantastically better than the yellow metal. Bitcoin vs. Gold ROIs 2009-10 to Present INSIGHT: Gold’s growth is strong, but Bitcoin’s massive gains can’t be ignored. Gold just hit a new ATH of $3,310, while Bitcoin is consolidating. But when we zoom out, BTC’s epic rise far outpaces gold’s performance. What’s your prediction? pic.twitter.com/1OkHGXltp5 — Coin Bureau (@coinbureau) April 16, 2025 Some fraud that would be to explain to a judge: Sorry, we told the litigant that the product was like an instrument that delivered 230% ROI in 16 years since 2009, and it only delivered 2.82 billion percent since 2010 . On the X podcast, Schiff asked: “What purpose does Bitcoin serve? We got plenty of risk assets out there. It’s a super risk asset that’s going to go up faster than other risk assets. Based on what?” He added, “At least a tech stock- there’s the story there of future earnings that could materialize, you’re buying a business that could earn money.” Bitcoin provides a banking service, which is traditionally a very profitable, high-growth business because everyone needs it every day in a market economy. Moreover, Bitcoin does so in a way that is simple and fundamentally useful. It is proven to work reliably, fairly, transparently, and easily for anyone to use. Bitcoin’s price was up 36% over the trailing 12 months in mid-April. The post Peter Schiff: Bitcoin a ‘Fraud,’ Strategy Will Probably Go ‘Bankrupt’ appeared first on CryptoPotato . CoinOtag

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Crypto Analyst Issues Urgent Bitcoin Alert, Says BTC ‘Definitely’ Primed To Go Lower – Here Are His Targets

A widely followed cryptocurrency analyst and trader believes that Bitcoin ( BTC ) is not yet out of the woods despite rising from a 2025 low of around $74,000. The analyst, pseudonymously known as the Flow Horse, tells his 267,200 followers on the social media platform X that he believes Bitcoin will revisit price levels below $80,000. But the trader says the current Bitcoin bounce could take BTC above $90,000 before his expected leg down ensues. “Think BTC definitely visit $70,000s again. Think a good trade that I would almost certainly sell is if price can remain bid at $88,000. That probably takes us to mid-$90,000s. There is a running diagonal, and a couple of moving averages that everyone is looking at. Momentum opportunities exist on the other side.” The trader also highlights that if President Trump somehow manages to fire Federal Reserve Chair Jerome Powell, it would be catastrophic for risk assets like Bitcoin and crypto. “Given Trump’s language, if by some measure he is able to boot Powell (Think this might be impossible, but man, clown world right now..) markets nuke.” The Flow Horse also says he has zero exposure to Bitcoin or equities and thinks that the current rallies will be short-lived. “Thinking the trend is your friend and rallies are for selling still.” Bitcoin is trading at $84,490 at time of writing. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Analyst Issues Urgent Bitcoin Alert, Says BTC ‘Definitely’ Primed To Go Lower – Here Are His Targets appeared first on The Daily Hodl . CoinOtag