In an exclusive interview with Cointelegraph, veteran economist and gold advocate Peter Schiff issued one of his starkest warnings yet about Bitcoinâs future, and the powerful forces he believes have inflated it.
Schiff argues that the latest Bitcoin (BTC) bull market isnât organic, but rather propped up by political influence in Washington, DC and Wall Streetâs self-interest. Despite being proven wrong multiple times in the past, Schiff is doubling down on his statement that Bitcoin is a âbubbleâ and will eventually âgo to zero.â
The economist challenges the mainstream narrative that Bitcoin protects investors from inflation or dollar weakness, warning instead that the same institutions Bitcoin was meant to disrupt are now the ones keeping it alive.
That support, Schiff suggests, may soon disappear.
Is Bitcoinâs rise a result of political influence and therefore destined to collapse? And could gold reclaim its role as the true store of value in a time of financial instability?
Watch the full exclusive interview on Cointelegraphâs YouTube channel to hear Peter Schiffâs unfiltered take on Bitcoin, gold, and why he believes the âBitcoin bubbleâ is nearing its end.
Related: Bitcoin falls under $101K: Analysts say BTC is âunderpricedâ based on fundamentals
