Schiff: Bitcoin Has No Earnings
Analysis
Price Impact
LowPeter schiff, a long-time bitcoin skeptic, reiterated his 'no earnings' critique, comparing bitcoin to productive assets and calling it speculative. he also attacked microstrategy's accumulation strategy. while bearish, these arguments are not new and have been frequently made by schiff, meaning the market has largely 'priced in' his perspective.
Trustworthiness
LowSchiff is a well-known gold proponent and bitcoin detractor whose arguments against bitcoin's fundamental value are consistent but rarely result in significant market shifts. his views are often dismissed by the crypto community.
Price Direction
NeutralAlthough schiff's comments are bearish in nature, the actual market impact is expected to be neutral. his arguments are largely recycled and do not introduce new fundamental information that would sway current market sentiment or institutional investment decisions, which have already accounted for such traditional finance critiques.
Time Effect
ShortAny minor impact from these comments would be short-lived. long-term bitcoin holders and investors are unlikely to be swayed by familiar criticisms that have been circulating for years.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News The 'zero-yield' critique Another attack on Strategy Advertisement Peter Schiff, the Euro Pacific Capital chief economist who has built a career on predicting the collapse of the fiat monetary system, turned his sights once again to the "cash flow" argument on Tuesday. The gold bug contrasted the projected revenue of industrial silver miners against the yield-free nature of the world’s largest digital asset. The companies extracting this metal, Schiff argued, are positioned for an earnings explosion in 2026. Their current equity valuations, he claimed, fail to predict the coming windfall. HOT Stories Morning Crypto Report: XRP Death Cross Alarm With -26% on Radar, Bitcoin and Ethereum Drop $1,078,000,000, Solana Sees 99% Rug Pull Bitcoin Reserve Ends Up Being One of Biggest Fails of 2025 Crypto Market Prediction: Shiba Inu's (SHIB) First Big Test in 2026, Bitcoin (BTC) Enters Year-End Rally Again, XRP $2 Is Target Again 459 Billion SHIB Leaves Exchanges, World’s Highest IQ Holder Bullish on XRP in 2026, Bitcoin ETFs See Worst Performance Since Launch — Crypto News Digest Bitcoin, in stark contrast to these productive enterprises, offers no such promise. Advertisement The 'zero-yield' critique The "no earnings" criticism, a favorite bludgeon of traditional finance skeptics, strikes at the heart of how institutional investors value assets. Bitcoin has no internal mechanism to generate yield. It produces nothing. A share of Apple represents a claim on future cash flows. Meanwhile, a Bitcoin represents only a claim on the ledger itself. You Might Also Like Mon, 12/29/2025 - 16:10 'Any Other Asset Instead of Bitcoin': Peter Schiff Reacts to Strategy's BTC Bet By Godfrey Benjamin Warren Buffett, the Oracle of Omaha, is the most famous proponent of this view. His core philosophy is that an asset must produce something to have value. Advertisement Charlie Munger, Buffet's right-hand man, has argued that investing in non-productive assets was gambling rather than investing. Consequently, they categorize crypto not as an investment, but as a speculation reliant entirely on the "Greater Fool Theory." The only way to profit is to sell the asset to someone else for a higher price later, as Schiff argues. Another attack on Strategy Schiff has also launched a new mathematical attack on Michael Saylor’s accumulation model. He argues that the aggressive purchasing habits of Strategy (ticker MSTR) have destroyed the company's efficiency. Schiff’s core critique centers on the company's rising cost basis. Strategy, having bought Bitcoin for five years, now has an average cost per coin of roughly $75,000, according to Schiff's calculations. This high water mark means the firm is sitting on a "paper profit" of just 16% on its entire position. Broken down annually, this amounts to a return of just over 3% per year. Schiff contends that Saylor would have been "much better off" buying almost any other asset class over that five-year period. #Peter Schiff