Peter Schiff tells Tucker Carlson Bitcoin is speculative and unsuited as reserve asset

In an interview on Tucker Carlson’s show, gold advocate Peter Schiff renewed his critique of Bitcoin and the crypto industry, calling BTC a speculative instrument with "no actual use." Schiff said the only reason people buy Bitcoin is that "they think the price is going to go up," and warned that proposals for a US strategic Bitcoin reserve would amount to a taxpayer‑funded bailout for early adopters.

He also alleged that some early holders "were able to pay off a bunch of politicians and get them to support Bitcoin." Beyond crypto, Schiff attacked official inflation data and fiscal policy, saying Americans are "being lied to" about inflation and claiming the government changed the Consumer Price Index to shift blame.

He described President Donald Trump’s "Big Beautiful Bill" as "the worst thing that we’ve done under Trump," saying it preserved and worsened deficit spending by increasing government outlays and cutting taxes. Schiff rejected the idea that Bitcoin could become the next global reserve asset, arguing central banks could not rely on an asset with no non‑monetary demand and that large‑scale liquidation would cause it to collapse.

He contrasted Bitcoin with gold, which he called "real money" and a commodity used in jewelry, aerospace, consumer electronics and medicine, and said tokenized, fully backed gold could enable internet‑native payments without creating inflation.

Key Topics

Crypto, Peter Schiff, Bitcoin, Tucker Carlson, Gold, Us Strategic Reserve