TLDR
- Peter Schiff dismisses Bitcoin, claiming it lacks tangible value compared to gold.
- Bitcoin briefly rallies following CPI data release, but faces volatility.
- Schiff’s stance on Bitcoin remains unchanged for over a decade, citing lack of industrial use.
- February CPI data shows softer inflation, yet Bitcoin’s price volatility continues.
Peter Schiff, a well-known critic of Bitcoin, has once again voiced his skepticism about the cryptocurrency, calling it “a zero” after Bitcoin’s reaction to the latest U.S. inflation report. Schiff’s comments come amid the market’s mixed response to the February Consumer Price Index (CPI) data released by the U.S. Bureau of Labor Statistics.
Bitcoin’s Initial Rally and Quick Reversal After CPI Data
On February 13, 2026, the Bureau of Labor Statistics reported the U.S. CPI for January at 0.2% month-over-month, a figure lower than the forecasted 0.3%. This release briefly boosted Bitcoin’s price, which surged to $67,600 on Binance within minutes. However, Bitcoin’s rally was short-lived, with the cryptocurrency falling back to around $67,360 shortly after.
#CPI Matters for #BTC
BTC trades as a liquidity asset, not just a risk asset.
CPI affects Fed expectations causing Rate cuts/delays impacting Dollar, Yields and consequently $BTC
Higher inflation would lead to
Fewer rate cuts
Stronger #USD
Higher bond yields
Risk assets sell… pic.twitter.com/mKMHiltq8B— Matthew Dixon – Veteran Financial Trader (@mdtrade) February 13, 2026
The market’s response to the CPI data highlights the continued sensitivity of Bitcoin to macroeconomic factors. While the softer inflation number initially sparked a positive reaction, the core CPI—which increased slightly from December—indicated persistent inflationary pressures, leading traders to pull back. The cryptocurrency’s volatility is a reminder of how external events, including inflation reports, continue to influence Bitcoin’s price movements.
Schiff’s Longstanding Criticism of Bitcoin’s Value Proposition
Peter Schiff has been an outspoken critic of Bitcoin for years, and his stance remains unchanged. In a post responding to a viral message that praised Bitcoin as a mathematically sound monetary system, Schiff sarcastically agreed with some points before dismissing Bitcoin entirely.
He referred to it as “a zero,” pointing out that, unlike gold, Bitcoin lacks any tangible demand or industrial use. Schiff continues to argue that Bitcoin does not offer the same value as traditional assets like gold, which have physical properties and are used in various industries.
Yes, Bitcoin is a zero.
— Peter Schiff (@PeterSchiff) February 13, 2026
Schiff’s longstanding criticisms focus on Bitcoin’s lack of yield, cash flow, and its absence of a real-world use case. For him, Bitcoin is a speculative asset with no inherent value, unlike gold, which he regards as a valuable and enduring resource. He further argues that Bitcoin’s fixed supply and automated monetary policies—such as the halving cycles—do not guarantee its success or provide any intrinsic worth.
Bitcoin Maximalists Defend Cryptocurrency Against Schiff’s Claims
While Schiff maintains his position, Bitcoin supporters continue to defend the cryptocurrency, highlighting its unique features. One of the primary arguments for Bitcoin is its predetermined supply limit of 21 million coins, which advocates claim makes it a deflationary asset compared to traditional fiat currencies.
Additionally, Bitcoin proponents emphasize its independence from central banks and political systems, arguing that its monetary policy is not subject to political influence or government decisions.
However, Bitcoin’s price fluctuations and the influence of global economic policies, such as those of the United States, have raised questions about how immune Bitcoin truly is to political forces. Despite these concerns, Bitcoin maximalists believe the cryptocurrency’s decentralized nature and mathematical foundations will continue to make it a valuable asset in the future.
The Ongoing Debate Over Bitcoin’s Future
The debate between Bitcoin proponents and critics like Peter Schiff continues to evolve as the cryptocurrency market reacts to economic data and shifts in investor sentiment. While Bitcoin’s price has been volatile, its supporters remain optimistic about its long-term potential. However, as demonstrated by Schiff’s latest comments, skepticism about Bitcoin’s fundamental value persists.
With inflation and macroeconomic factors continuing to play a significant role in shaping market conditions, it remains to be seen how Bitcoin will fare in the face of changing economic dynamics. As the debate surrounding Bitcoin’s future rages on, its ability to maintain its value and relevance will likely continue to be tested by market forces.
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