From Nasdaq, Inc.:

Noted economist Peter Schiff expressed skepticism about Bitcoin’s real-world utility and likened it to a gamble. He questioned what will bulls bet on now, with the approval of Bitcoin Spot ETFs by the Securities and Exchange Commission. Schiff warned about potential loss of wealth and the lack of actual utility in Bitcoin, despite its ability to be sent through the internet. Despite the approval of 11 new Bitcoin ETFs, Schiff remains skeptical and cautioned about a “buy the rumor of the news” event. This illustrates the ongoing debate about Bitcoin’s real-world utility, as Schiff highlighted that it’s not a store of value. Bitcoin was trading 1.9% higher at $46,625.76, with a 24-hour trading volume of $52.22 billion and an intraday high of $47,647.22 on that day. This came amidst the SEC’s approval of 11 new Bitcoin ETFs, further opening up investment opportunities in Bitcoin. Even though the market might be optimistic, Schiff’s skepticism adds to ongoing discussions about Bitcoin’s real-world utility and long-term value.



Read more: Peter Schiff Says Spot Bitcoin Approval Means ‘Eleven More Ways For Speculators To Place Their Bets’