Schiff Says He's Responsible for People Buying Bitcoin

Bitcoin Skeptic Peter Schiff Claims Responsibility for Driving Crypto Adoption

Peter Schiff, a well-known Bitcoin critic, has made a surprising claim: he believes he may be responsible for more people owning Bitcoin than anyone else. Speaking at the Bitcoin 2025 conference, Schiff admitted that his persistent warnings against investing in Bitcoin have had the opposite effect.

"Every time I tell you not to buy Bitcoin, you buy more," Schiff joked with the audience, implying that his skepticism has unintentionally encouraged more people to invest in the cryptocurrency.

Despite this, Schiff remains highly critical of Bitcoin, arguing that it hasn’t generated real wealth. "What’s happened is a massive transfer of wealth from early Bitcoin and crypto buyers to those who entered later," he said.

Schiff, who has opposed Bitcoin since 2011, also compared its community to "a giant cult," reinforcing his long-standing doubts about the digital asset.

Even if his criticisms have inadvertently boosted adoption, Schiff’s stance on Bitcoin remains firmly negative, as he continues to challenge its legitimacy and value.