Peter Schiff Claims Bitcoin Lacks Inflation Hedge Properties

Peter Schiff, a prominent gold advocate and long-time critic of Bitcoin, has renewed his skepticism about Bitcoin's status as a hedge against inflation, arguing it behaves more like a tech stock than a store of value and is too volatile to serve as a reliable safe haven. Schiff asserts that Bitcoin's recent price movements are driven more by speculation and macroeconomic trends than intrinsic monetary value, continuing to recommend gold as the superior option for long-term protection. In a notable twist, Schiff has previously claimed—albeit somewhat tongue-in-cheek—that Dogecoin, a meme-based cryptocurrency, is 'superior' to Bitcoin, highlighting what he sees as the arbitrary or deceptive value proposition of Bitcoin versus Dogecoin's more transparent speculation. Meanwhile, Senator Cynthia Lummis has publicly backed the BITCOIN Act, suggesting Bitcoin adoption could help address the U.S. national debt, reflecting a growing interest among policymakers in digital assets. Despite these debates, MicroStrategy continues to accumulate Bitcoin, and analysts note that long-term holders remain confident, even as warnings persist about possible selling pressure at higher price levels. The ongoing debate underscores deep divisions over whether Bitcoin is a meaningful hedge or simply driven by hype.