Schiff: Bitcoin Is a Waste of Energy, Not a Store of Economic Energy

Published at 2025-12-28 08:45:07

On Dec. 28, 2025, gold proponent Peter Schiff used social media to dismiss Bitcoin as a "waste of energy," rejecting claims that BTC functions as a non-inflationary ledger for storing economic energy. Schiff framed the network's power consumption as a cost that undermines assertions about Bitcoin's capacity to preserve value over time, reiterating his long-standing preference for gold.

The remark adds fuel to the ongoing debate over crypto's environmental footprint and whether digital assets can reliably serve as stores of value. For investors and policymakers watching BTC, high-profile criticism like Schiff's keeps attention on mining energy use, sustainability claims, and potential regulatory responses — factors that could shape institutional adoption and market sentiment in the months ahead.

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