Peter Schiff is again within the headlines along with his characteristically satirical critique of Bitcoin, this time in regards to the so-called “mathematical” foundations of cryptocurrencies. In response to a viral submit praising Bitcoin as a rules-based monetary system, contrasting it with the political nature of bodily gold and fiat currencies, a monetary skilled gave a uncommon concurrence, merely saying, “Bitcoin is zero.”
Why Schiff stays bearish: Denies Bitcoin's function after January CPI printing
Schiff's newest remarks got here an hour earlier than this month's key US macro knowledge was posted on the timeline. On February 13, the U.S. Bureau of Labor Statistics introduced that the headline CPI for January was 0.2% from the earlier month, decrease than the consensus estimate of 0.3%. Core CPI was 0.3%, as anticipated, however up from 0.2% in December, highlighting the persistence of underlying worth pressures.
Within the minutes following the CPI launch, Bitcoin briefly rose to $67,600 on a Binance chart offered by TradingView as headline inflation slowed and danger urge for food improved.
Nonetheless, core knowledge tempered the optimism. The information dealer canceled his unique bid and $BTC It settled close to $67,360 on the 1-minute chart, forming an intraday vary between $65,300 and $67,600.
Mr. Schiff's place has remained unchanged for greater than a decade. Not like gold, which he champions as an actual asset with tangible demand, bitcoin has no yield, money move or industrial use.
Bitcoin maximalists counter with a coded 21 million cap, automated halving cycles, and apolitical financial coverage, which is debatable given how U.S. coverage continued to impression the crypto market in 2025 and 2026.
Bitcoin’s provide dynamics stay unchanged, with present issuance at 3.125. $BTC block by block. However Bitcoin has struggled to draw sustained capital turnover, particularly from conventional safe-haven property like gold, because the cryptocurrency's worth has halved since its all-time excessive in October 2025.
After right now's CPI announcement, all eyes are on the FOMC assembly on March 4, 2026. The place greenback liquidity is the dictator of the market, particularly relating to digital property resembling Bitcoin, one aspect sees arithmetic as a monetary self-discipline. The opposite, represented by Schiff, interprets it as empty symbolism.
