Peter Schiff Says Bitcoin Is Like Tech Stocks But Without ‘Potential Of Earnings’ As Investors Digest Meta, Microsoft Numbers
Posted On July 31, 2025
Noted economist and gold advocate Peter Schiff deemed Bitcoin (CRYPTO: BTC) a “digital tech stock” with no earnings potential on Wednesday.
What happened: In an X post, Schiff argued that Bitcoin’s price movements are highly correlated with those of technology stocks, despite it not being an “operating business” with revenue and earnings.
“It’s also amazing how negatively correlated it is to gold, even though it’s hyped as digital gold,” Schiff said, questioning the long-touted narrative by Bitcoiners.
He called the apex cryptocurrency a “digital tech stock without even the potential of earnings.”
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