Peter Schiff Sparks Fresh Debate Over Bitcoin Value

Crypto critic Peter Schiff started a new debate over the weekend by arguing that Bitcoin lacks any physical backing. He replied to a supporter who claimed that mining power and a fixed supply make the coin the future of money. Schiff stated that energy disappears the moment miners use it, leaving nothing behind to support the network.

Schiff often compares Bitcoin to gold, noting that gold still exists after mining, while electricity does not. His comments arrive at a time when hash rates have dropped because some operators moved power toward artificial intelligence projects. Even so, Schiff ignored the fixed supply cap, which remains a central point for holders.

The discussion also touched on national debt figures, highlighting how quickly government borrowing continues to grow. Bitcoin traded near $79,600 over the weekend after seeing a slight daily dip. Traders should watch how market participants respond to these ongoing debates about intrinsic value as national debt totals climb higher.