Peter Schiff Calls Bitcoin 'Worth Zero' After Softer CPI Spurs BTC Move
A softer-than-expected CPI reading on Friday helped lift BTC, and the move drew fresh commentary from longtime gold bull Peter Schiff. Responding to a viral post that lauded Bitcoin as a rules-based monetary system versus gold’s physicality and fiat’s politics, Schiff initially acknowledged the “rules” line only to undercut it with his signature sarcasm, concluding that “Bitcoin is a zero.” The short exchange quickly circulated across social feeds, reigniting debate over crypto’s monetary claims.
The episode matters less for immediate price action than for market narrative: Schiff’s high-profile dismissal highlights persistent skepticism among some traditional investors even as macro prints occasionally boost crypto flows. For traders and allocators, the spat is a reminder that Bitcoin’s moves remain subject to both data-driven flows and cultural battles over store-of-value legitimacy between gold partisans and crypto advocates.