Peter Schiff is an American stock broker, financial commentator, and gold advocate. He has been a vocal critic of central banking and the Federal Reserve in particular. He is also well-known for his views on cryptocurrencies; specifically that they are nothing more than speculative investments with no intrinsic value or use cases.
Schiff began warning against investing in Bitcoin as early as 2011 when it had a market capitalization of less than $5 million USD. Since then he has warned against investing in digital currencies numerous times even going so far as to call them “digital fool’s gold” and likening them to tulips during the famous Dutch tulip bubble of 1637–1638.
In 2019 Schiff began accepting payments for his services in Bitcoin Cash (BCH), which sparked some controversy due to its status as a fork from original Bitcoin (BTC). This was seen by many crypto supporters as contradicting his previous claims about cryptocurrencies being worthless.
Despite this move however, Schiff continues to be one of the most outspoken critics on all things cryptocurrency related with his catch phrase “buy gold not bitcoin” becoming synonymous with both himself and broader opposition to decentralized digital assets such as BTC, ETH etc…
