u.today
Peter Schiff is back in the headlines with his signature satirical critique of Bitcoin, this time about the so-called “mathematical” foundation of the cryptocurrency. Replying to a viral post that praised Bitcoin as a rules-based monetary system — contrasting it with gold's physical and fiat's political nature — the financial expert responded with rare agreement, only to say that "Bitcoin is a zero."
Why Schiff remains bearish: Dismissing Bitcoin's role after January CPI print
Schiff's latest remarks landed an hour before the key U.S. macro data of this month hit the timeline. On Feb. 13, the U.S. Bureau of Labor Statistics reported headline CPI for January at 0.2% month-over-month, undercutting consensus forecasts of 0.3%. Core CPI came in as expected at 0.3% but ticked up from December’s 0.2%, highlighting stickiness in underlying price pressures.
Bitcoin briefly rallied to $67,600 on the Binance chart presented by TradingView in the minutes following the CPI release, as softer headline inflation improved risk appetite.
However, core data tempered the optimism. News traders walked back initial bids, and $BTC settled near $67,360 on the one-minute chart, forming an intraday range between $65,300 and $67,600.
Schiff’s position has not changed in over a decade. For him, Bitcoin lacks yield, cash flow or industrial use — unlike gold, which he supports as a real asset with tangible demand.
Bitcoin maximalists counter with its coded 21 million cap, automated halving cycles and a monetary policy that does not rely on politics, which is debatable considering how United States policy affected the crypto market in 2025 and continues to in 2026.
Supply dynamics remain unchanged for Bitcoin, with the current issuance sitting at 3.125 $BTC per block. Yet as the price of the cryptocurrency halved in price since the October 2025 all-time high, Bitcoin struggles to attract sustained capital rotation from traditional safe havens like gold, especially.
After today's CPI release, all eyes are on the March 4, 2026 FOMC meeting. With dollar liquidity being the dictator for the markets, and in particular digital assets with Bitcoin at the forefront, one side reads math as monetary discipline. The other, represented by Schiff, reads it as empty symbolism.