Peter Schiff battles Bitcoin bull Anthony Pompliano on Fox Business, arguing the Bitcoin bubble has burst while gold stays in a powerful bull market.
In a Fox Business exclusive debate moderated by Liz Claman, Peter Schiff faces off against Bitcoin bull Anthony Pompliano of ProCap Financial. Schiff makes the case that Bitcoin’s bubble has finally burst, pointing to its steep decline from the October all-time high near $126,000 and noting that the price is no higher than it was five years ago. He argues Bitcoin is “digital nothing” — a Ponzi-like scheme in which early holders cash out on the hype generated by ETFs, Bitcoin treasury companies, and Michael Saylor’s increasingly strained Strategy flywheel. By contrast, Schiff explains that gold is a real, useful precious metal still in a major bull market, and that its recent pullback was simply a “buy the rumor, sell the fact” reaction after an overextended run-up ahead of the war. He also warns that government and political backing of Bitcoin — including the Trump family’s crypto ventures — is a serious problem, and reminds viewers that gold has outperformed even the stock market since 1999. Pompliano counters with claims about Bitcoin’s long-term returns and the supposed virtues of volatility, but Schiff holds firm that there is no real long term for Bitcoin and that gold and silver remain the superior stores of value.
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