Peter Schiff Says Bitcoin "Has No Future," and Investors Retreat

Bitcoin has once again come under intense scrutiny from its biggest critic, Peter Schiff, who warned that the asset “has no future."

Schiff claimed that even Cathie Wood, the iconic investor who has previously been bullish on Bitcoin, “admits stablecoins are better. (Photo: APB Speakers) 

The damning comments came as blockchain analytics firm Arkham reported the largest-ever daily outflow of Bitcoin linked to BlackRock’s IBIT ETF, with the fund selling over $500 million in a single day, Kurt Robson reported for CCN.

These developments arrive amid dark sentiment for Bitcoin and the wider crypto industry, with analysts indicating that a bear market is well underway.

Schiff spoke out against the asset, arguing on X that Bitcoin fails both as a medium of exchange and as a store of value.

“Bitcoin has no future. It’s not a good medium of exchange for payments,” Schiff wrote.

Schiff claimed that even Cathie Wood, the iconic investor who has previously been bullish on Bitcoin, “admits stablecoins are better. If you also want a store of value, tokenized gold wins hands down,” he added.

“The race to get out of Bitcoin is on. Don’t be last.” In a separate post, Schiff mocked those who had been “popping champagne corks at Bitcoin’s $100K parties a year ago.”

He added: “How many people popping champagne corks at Bitcoin $100,000 parties a year ago expected 2025 to be this bad? 2026 could be far worse.”