Peter Schiff slams Bitcoin treasury: "It's nothing but a Ponzi scheme"

Uk Jin

Summary

Peter Schiff stated that the demand for Bitcoin is shifting to treasury companies and speculative forces.
He pointed out that this shift in demand is similar to a Ponzi scheme.
Schiff claimed this is centralized speculation that contradicts the fundamental principles of Bitcoin.

Cryptocurrency skeptic Peter Schiff has unleashed negative remarks about Bitcoin (BTC).

On the 14th (local time), Peter Schiff stated on X (formerly Twitter), "The demand for Bitcoin has shifted to Bitcoin treasury (reserve) companies and speculators trying to front-run purchases," adding, "This is like a Ponzi scheme built on top of a pyramid."

He continued, "This isn't an effort to expand Bitcoin adoption, but reckless, centralized speculation that goes against the fundamental principles of Bitcoin."

BTC