Peter Schiff says he could have made a lot of money with Bitcoin (BTC). But he insists Bitcoin HODLers left even more money on the table by refusing to sell.
Schiff made the comment while replying to his own post about artificial intelligence (AI) and Bitcoin. He argued that AI poses a bigger threat to Bitcoin than it does a boost.
Schiff Defends His Bitcoin Track Record
Schiff has skipped Bitcoin for roughly five years, he says, and does not regret it. He believes he has come out ahead of Bitcoin HODLers, those who buy and hold regardless of price swings, by staying out of the market.
Yes, I could have made a lot of money with Bitcoin. But that’s old news. Over the last five years or so I’ve been better off not owning Bitcoin. It’s the Bitcoin HODLers who have left a lot of money on the table by not selling!
However, Schiff’s Bitcoin skepticism is not new. He has repeatedly framed Bitcoin’s rallies as a reason to sell, not a signal to buy more. Historically, he has used Bitcoin’s struggles to push gold as the safer store of value instead.
AI Versus Bitcoin Debate Heats Up
In his original post, Schiff argued that AI competes with Bitcoin for speculative capital, electricity, and data center space. He also warned that AI could eventually find flaws in Bitcoin’s code or cryptography that humans have missed.
Meanwhile, AI’s growing footprint is already shaping crypto markets in other ways. BeInCrypto has reported that AI-driven inflation pressure has helped keep Bitcoin range-bound in recent months.
It is still unclear whether AI poses a genuine risk to Bitcoin’s security. For now, the exchange adds fresh fuel to one of crypto’s oldest rivalries.