Schiff Claims Bitcoin 'Wastes' Energy
Analysis
Price Impact
LowPeter schiff's arguments about bitcoin's energy consumption are well-known and have been repeatedly debated. his consistent bearish stance is largely priced into the market and unlikely to cause significant new fud or price movement.
Trustworthiness
LowPeter schiff is a prominent gold advocate and long-term bitcoin skeptic whose arguments are predictable and often dismissed by the crypto community. while he genuinely holds these views, their market impact is minimal.
Price Direction
NeutralThe 'energy waste' narrative is not new. while it adds to general fud, it's unlikely to trigger a major price drop as the market has heard and largely discounted these arguments over time, especially from a consistent critic like schiff.
Time Effect
ShortAny minor dip in sentiment caused by these comments would likely be very short-lived, as the market quickly moves past repetitive fud and focuses on more impactful news or developments.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News Bitcoin as a battery? The counter-argument Advertisement In a recent social media post, gold bug Peter Schiff has rejected the narrative that Bitcoin could be viewed as a non-inflatable ledger for storing economic energy. Bitcoin as a battery? Schiff is responding to the specific narrative championed by MicroStrategy CEO Michael Saylor and other Bitcoin maximalists. Saylor often argues that money is essentially "economic energy." When you work, you expend energy. HOT Stories Schiff Claims Bitcoin 'Wastes' Energy Crypto Market Prediction: Bitcoin Could Spike Above $90,000, Shiba Inu (SHIB) Hits Hidden Reversal Level, Will Ethereum's (ETH) New Year Pump Happen? Fidelity’s Macro Guru Turns Bearish on Bitcoin Morning Crypto Report: Legendary Trader Speaks out on $24,111 Bitcoin Anomaly on Binance, Cardano's Hoskinson Calls out New Project and Brings up XRP, Dogecoin (DOGE) Posts 'Naughty List' When you are paid, you are storing that energy to use later. He argues that fiat currency "leaks" this energy, and gold is difficult to transport. Therefore, Bitcoin is "digital energy". It is viewed as a battery that stores your economic output without loss over time and can be transmitted anywhere (almost instantly). Advertisement You Might Also Like Tue, 12/23/2025 - 15:31 Schiff Predicts Four Terrible Years for Bitcoin as Bloomberg Says BTC Might Be Dead By Alex Dovbnya Uber-bull Saylor and other Bitcoin evangelists are not alone. In a recent podcast appearance, Tesla CEO Elon Musk described it as a "fundamental physics-based currency" because of its intrinsic tie to energy consumption. Interestingly enough, Musk predicted that the concept of money itself would eventually become obsolete. He envisions a post-scarcity world driven by AI and robotics. The counter-argument At the same time, one cannot extract electricity back out of a Bitcoin. The energy used to mine Bitcoin is consumed at the moment of creation. It is gone forever. If the power grid goes down, holding 1 BTC gives you zero watts of power, which is exactly the point that Schiff is making. Therefore, literally speaking, it "stores" no energy. Advertisement Gold mining, for comparison, also consumes massive amounts of energy (diesel, electricity). However, Schiff argues this is not waste because the end product is a physical metal that is needed for electronics, dentistry, aerospace, and jewelry. The energy was "converted" into a useful industrial commodity. #Bitcoin Price Prediction #Peter Schiff