Bitcoin

Peter Schiff Slams Bitcoin Super Bowl Ad, Sparks Debate

Peter Schiff criticized an announcement by Super Bowl Bitcoin, accusing him of false advertisement to say that Bitcoin is supported by energy. He argued that Bitcoin neither stores nor can not be bought against energy, urging the intervention of the FTC. In response, Dan Victor, CFA, stressed that Bitcoin is based on a decentralized computing power, which requires energy. Schiff rejected this as a semantics, claiming that Bitcoin looks like a fiduciary currency, supported by faith rather than tangible assets like gold. This has aroused a debate renewed on the intrinsic value of Bitcoin, especially since the general public promotions such as the advertisements of the Super Bowl amplify the scope of Crypto.

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