Washington fueled the Bitcoin bubble, Peter Schiff says
Cointelegraph
Economist Peter Schiff claims Bitcoin's rally is driven by political and Wall Street support, not organic growth.Summary
In an exclusive interview, economist and gold advocate Peter Schiff asserted that the recent Bitcoin bull market is artificial, fueled by political influence in Washington, D.C., and the self-interest of Wall Street institutions. Schiff maintains his long-held view that Bitcoin is a "bubble" destined to fail, despite past predictions of its collapse proving incorrect. He argues that the very institutions Bitcoin was designed to disrupt are now sustaining its price, and this support is precarious. Schiff challenges the narrative that Bitcoin serves as a hedge against inflation or dollar weakness, suggesting its current valuation is unsustainable once this political and institutional backing potentially vanishes.
(Source：Cointelegraph)