Peter Schiff Slams Bitcoin As ‘Fake Asset’ Amid Price Drop, Accuses CNBC of ‘Hosting Bitcoin Shills’

Economist and gold advocate Peter Schiff renewed his strong criticism of Bitcoin, calling it a "fake asset" following a recent 5% price drop. Schiff argued that Bitcoin's decline, contrasted with the NASDAQ nearing its record high, indicated a rotation from "fake to real assets," not just a general risk-off sentiment. He also claimed his biggest mistake was underestimating how many people would foolishly buy Bitcoin, believing those buyers would be too foolish not to sell when the market proves him right. Furthermore, Schiff accused CNBC of hosting "Bitcoin shills" for "softball interviews" and failing to question their wrong forecasts or address why gold and silver were rising while Bitcoin was falling. He promoted tokenized gold as a superior store of value, warning that 2026 could be worse for Bitcoin, which recently fell below $86,000, a drop analysts linked partly to potential Bank of Japan rate hikes rattling crypto markets.

(Source：CCN)