Crypto News

The Flaw in Peter Schiff's Argument While Peter Schiff raises valid concerns about Bitcoin's ability to pay off the U.S. national debt, his argument is flawed in several ways. Firstly, Bitcoin's market cap does not solely depend on its use for paying off debts. It is also influenced by its use as a store of value, a medium of exchange, and a hedge against inflation. Therefore, the potential increase in Bitcoin's market cap is not solely dependent on the U.S. national debt. Secondly, Schiff's argument overlooks the fact that Bitcoin's value is not solely determined by its use in the United States. It is a global currency, with its value influenced by demand and adoption from all over the world. Therefore, even if the U.S. national debt were to be paid off, there would still be demand for Bitcoin in other countries. The Role of Speculation and Demand in Bitcoin's Value While Schiff dismisses the role of demand in Bitcoin's value...