Economist Peter Schiff Warns of Bitcoin's Uncertain Future

According to Cointelegraph, veteran economist and gold advocate Peter Schiff has issued a stark warning regarding Bitcoin's future, attributing its recent bull market to political influence and Wall Street's self-interest. Schiff, known for his critical stance on Bitcoin, maintains that the cryptocurrency is a "bubble" destined to "go to zero," despite previous predictions that did not materialize. Schiff challenges the prevailing belief that Bitcoin serves as a hedge against inflation or dollar devaluation. He argues that the very institutions Bitcoin was designed to disrupt are now sustaining its value. This support, he warns, may not last indefinitely, raising questions about Bitcoin's long-term viability. Schiff's perspective suggests that Bitcoin's rise is not organic but rather influenced by external political and financial forces, which could lead to its eventual collapse. In this context, Schiff posits that gold may once again emerge as the primary store of value amid financial instability.