{"id":9227,"date":"2025-01-23T07:01:48","date_gmt":"2025-01-23T07:01:48","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=9227"},"modified":"2025-01-23T07:01:48","modified_gmt":"2025-01-23T07:01:48","slug":"peter-schiff-on-bitcoin-its-just-a-meme-coin-fact-or-fiction","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=9227","title":{"rendered":"Peter Schiff on Bitcoin: \u2018It\u2019s Just a Meme Coin\u2019 \u2013 Fact or Fiction?"},"content":{"rendered":"<div>\n<p>Some brief context: Bitcoin burst up from glances of support at the $92,500 and $93,000 levels earlier this month. On Wednesday, Jan. 15th, the world\u2019s first cryptocurrency flew over $100,000 in daily spot prices for the fourth time since December.<\/p>\n<p>This time, BTC may stay above medium-term support for the $100,000 mark. Strong whale moves in the old Satoshi blockchain\u2019s assets and robust network activity <a href=\"https:\/\/cryptopotato.com\/2-key-indicators-suggest-bitcoins-price-could-soar-to-new-highs-soon\/\" data-wpel-link=\"internal\">are signal<\/a> portents for the rally to continue.<\/p>\n<h2>Peter Schiff Questions Bitcoin\u2019s Value<\/h2>\n<p>Meanwhile, EuroPacific Capital founder and chief global strategist Peter Schiff posted a note on X this week to remind readers that \u201cBitcoin is a meme coin.\u201d But is that true? And if so, does it mean gold is nothing more than a \u201cmeme rock,\u201d as one feisty reply said?<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">Remember, Bitcoin is a meme coin.<\/p>\n<p>\u2014 Peter Schiff (@PeterSchiff) <a href=\"https:\/\/twitter.com\/PeterSchiff\/status\/1881770557223682309?ref_src=twsrc%5Etfw\" data-wpel-link=\"external\" target=\"_blank\">January 21, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Meme coins are cryptocurrencies that feature a meme with a public and automated blockchain currency maintained by cryptographic security. In a 2022 article, the New York Times <a href=\"https:\/\/www.nytimes.com\/2022\/01\/26\/crosswords\/what-is-a-meme.html\" data-wpel-link=\"external\" target=\"_blank\">defined memes<\/a> as \u201ca piece of media that is repurposed to deliver a cultural, social or political expression, mainly through humor.\u201d<\/p>\n<p>For example, President Donald Trump supporters recently launched a TRUMP meme coin on Solana. On January 21, the day of the incoming president\u2019s inaugural, it <a href=\"https:\/\/cryptopotato.com\/trump-and-melania-outshine-doge-in-prominent-rankings-key-insights\/\" data-wpel-link=\"internal\">was the<\/a> top trending meme coin in the cryptoverse.<\/p>\n<h2>Is BTC a Meme Coin?<\/h2>\n<p>So, is Bitcoin a meme coin?<\/p>\n<p><a href=\"https:\/\/www.coinbase.com\/en-ca\/learn\/crypto-basics\/what-is-a-memecoin\" data-wpel-link=\"external\" target=\"_blank\">According <\/a>to Coinbase, meme coins \u201care cryptocurrencies often inspired by internet memes or trends.\u201d But the financial crisis of 2008 inspired Bitcoin, not a meme or online fashion.<\/p>\n<p><a href=\"https:\/\/www.bankrate.com\/investing\/what-are-memecoins-in-crypto\/\" data-wpel-link=\"external\" target=\"_blank\">According<\/a> to Bankrate, \u201cA meme coin is a type of cryptocurrency that draws its inspiration from internet memes, characters or trends.\u201d However, Bitcoin draws its inspiration from cryptography and P2P networks for distributed databases.<\/p>\n<p><a href=\"https:\/\/www.investopedia.com\/meme-coin-6750312\" data-wpel-link=\"external\" target=\"_blank\">According <\/a>to Investopedia, \u201cA meme coin is a cryptocurrency named after characters, individuals, animals, artwork, or anything else in an attempt to be humorous, light-hearted, and attract a user base by promising a fun community.\u201d<\/p>\n<p>Meanwhile, Bitcoin is not derivative of any character, individual, or artwork. It is original and one of a kind, just like every digitally serialized and protected bit of coin on its network.<\/p>\n<p>So, it seems as if Peter Schiff is just doing more Peter Schiff things.<\/p>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/peter-schiff-on-bitcoin-its-just-a-meme-coin-fact-or-fiction\/\" rel=\"nofollow\">Peter Schiff on Bitcoin: \u2018It\u2019s Just a Meme Coin\u2019 \u2013 Fact or Fiction?<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Some brief context: Bitcoin burst up from glances of support at the $92,500 and $93,000 levels earlier this month. On Wednesday, Jan. 15th, the world\u2019s first cryptocurrency flew over $100,000 in daily spot prices for the fourth time since December. This time, BTC may stay above medium-term support for the $100,000 mark. Strong whale moves [&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-9227","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\/9227","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=9227"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/9227\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}