Peter Schiff said Monday that his teachings on economics inadvertently led many to invest in Bitcoin BTC/USD, despite his advice against it.
What Happened: Schiff shared his experience at the Bitcoin 2025 conference on his YouTube podcast. He stated that many attendees credited him as the reason they bought the leading cryptocurrency.
“Everybody was telling me, almost to a person, that I was the reason that they bought Bitcoin and they credit me, even though that was not my intention,” the staunch Bitcoin critic said.
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“But the reason people were telling me they bought Bitcoin was because I taught them about economics. They learned economics from me, they learned about sound money they began to question the Fed,” Schiff added.
According to Schiff, David Bailey, who runs the conference, also credited the Bitcoin skeptic for his decision to buy Bitcoin.
“It wasn’t my intention. It’s kind of like a government program. It was an unintended consequence,” Schiff said.
Why It Matters: Schiff’s participated in the Bitcoin 2025 conference, intending to present “contrarian opinions” on the apex cryptocurrency.
During the conference, Strategy co-founder Michael Saylor took a dig at the economist while highlighting Bitcoin’s superiority over all assets, including gold. Schiff then challenged Saylor to a one-on-one debate over gold versus Bitcoin.
Price Action: At the time of writing, BTC was exchanging hands at $105,702.39, up 0.92% in the last 24 hours, according to data from Benzinga Pro.
Photo Courtesy: PalSand on Shutterstock.com
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