“It's not backed by energy. Energy is used to create Bitcoin, but that energy is gone after Bitcoin is created. If you own Bitcoin you do not own any stored energy that can be released. Bitcoin is not a battery.”
Peter Schiff, Stock Broker / Economist · Bitcoin since: -34%
As published by Twitter
Bitcoin Critic Peter Schiff Explains Why Proof Of Work Makes No Sense ↗
A little perspective.
Bitcoin on that day$102,683January 26, 2025
$100 at that price$65.62At our latest price check
Illustrative value using a Bitcoin price of $67,378, checked Nov 14, 2026, 7:03 AM UTC. Excludes fees, taxes, and inflation. A price change alone does not settle the original criticism.
Peter Schiff appears in 26 recorded obituaries. 34 declarations were recorded in 2025.
Keep the receipt.
Bitcoin Is Dead. “Bitcoin Critic Peter Schiff Explains Why Proof Of Work Makes No Sense” — Peter Schiff, Twitter, January 26, 2025. Bitcoin: $102,682.5. https://bitcoindeaths.com/posts/2025-01-26-bitcoin-critic-peter-schiff-explains-why-proof-of-work-makes-no-sense