{"id":22807,"date":"2025-04-19T06:16:58","date_gmt":"2025-04-19T06:16:58","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=22807"},"modified":"2025-04-19T06:16:58","modified_gmt":"2025-04-19T06:16:58","slug":"peter-schiff-bitcoin-a-fraud-strategy-will-probably-go-bankrupt","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=22807","title":{"rendered":"Peter Schiff: Bitcoin a \u2018Fraud,\u2019 Strategy Will Probably Go \u2018Bankrupt\u2019"},"content":{"rendered":"<div>\n<p>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\u2019s BTC-accumulating finance company, formerly named MicroStrategy.<\/p>\n<p>He said Strategy will go bankrupt over Bitcoin. But if this is reverse psychology, it must be working on Saylor. His company still hasn\u2019t stopped <a href=\"https:\/\/cryptopotato.com\/feeding-frenzy-bullish-corporate-balance-sheets-wolf-bitcoin-up-in-march\/\" data-wpel-link=\"internal\">racing other<\/a> firms for <a href=\"https:\/\/cryptopotato.com\/saylors-strategy-buys-another-3459-btc-for-286-million\/\" data-wpel-link=\"internal\">more BTC<\/a> in whale-sized bites.<\/p>\n<h2>Peter Schiff Pulls No Punches on BTC in X Spaces Gag<\/h2>\n<p>To start off the <a href=\"https:\/\/x.com\/PeterSchiff\/status\/1912298525448118545\" data-wpel-link=\"external\" target=\"_blank\">program<\/a>, Schiff said Bitcoin\u2019s promoters sold it as a kind of digital gold, but it hasn\u2019t performed like the precious metal at all, so the \u201cmarketing\u201d was a \u201cfraud.\u201d<\/p>\n<blockquote>\n<p>\u201cThe idea that it\u2019s digital gold has been destroyed because it trades nothing like gold. It\u2019s just some kind of risk asset.\u201d<\/p>\n<\/blockquote>\n<p>But, Bitcoin\u2019s 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.<\/p>\n<p>While it is true that Bitcoin\u2019s price lately has not traded like gold, that\u2019s because over timescales very relevant to individual investors it has performed fantastically better than the yellow metal.<\/p>\n<h2>Bitcoin vs. Gold ROIs 2009-10 to Present<\/h2>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">INSIGHT: Gold\u2019s growth is strong, but Bitcoin\u2019s massive gains can\u2019t be ignored.<\/p>\n<p>Gold just hit a new ATH of $3,310, while Bitcoin is consolidating. But when we zoom out, BTC\u2019s epic rise far outpaces gold\u2019s performance.<\/p>\n<p>What\u2019s your prediction? <a href=\"https:\/\/t.co\/1OkHGXltp5\" data-wpel-link=\"external\" target=\"_blank\">pic.twitter.com\/1OkHGXltp5<\/a><\/p>\n<p>\u2014 Coin Bureau (@coinbureau) <a href=\"https:\/\/twitter.com\/coinbureau\/status\/1912478799624561033?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">April 16, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Some fraud that would be to explain to a judge:<\/p>\n<p>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 <a href=\"https:\/\/www.cmegroup.com\/articles\/2025\/celebrating-bitcoins-16th-birthday-a-look-at-achievements-in-the-crypto-space.html\" data-wpel-link=\"external\" target=\"_blank\">since 2010<\/a>.<\/p>\n<p>On the X podcast, <a href=\"https:\/\/cryptopotato.com\/peter-schiff-suggests-selling-bitcoin-in-favor-of-gold-mining-stocks-amid-crypto-struggles\/\" data-wpel-link=\"internal\">Schiff<\/a> asked:<\/p>\n<blockquote>\n<p>\u201cWhat purpose does Bitcoin serve? We got plenty of risk assets out there. It\u2019s a super risk asset that\u2019s going to go up faster than other risk assets. Based on what?\u201d<\/p>\n<\/blockquote>\n<p>He added, \u201cAt least a tech stock- there\u2019s the story there of future earnings that could materialize, you\u2019re buying a business that could earn money.\u201d<\/p>\n<p>Bitcoin provides a banking service, which is traditionally a very profitable, high-growth business because everyone needs it every day in a market economy.<\/p>\n<p>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.<\/p>\n<p><a href=\"https:\/\/cryptopotato.com\/bitcoin-price-analysis\/\" data-wpel-link=\"internal\">Bitcoin\u2019s price<\/a> was up 36% over the trailing 12 months in mid-April.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/peter-schiff-bitcoin-a-fraud-strategy-will-probably-go-bankrupt\/\" rel=\"nofollow\">Peter Schiff: Bitcoin a \u2018Fraud,\u2019 Strategy Will Probably Go \u2018Bankrupt\u2019<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>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\u2019s 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\u2019t [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-22807","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22807","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22807"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/22807\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}