The post Will BTC Be the Next Global Reserve Currency? Peter Schiff Says No appeared on BitcoinEthereumNews.com.

Economist and gold advocate Peter Schiff has dismissed the idea that Bitcoin could become a global reserve asset. He claimed that the cryptocurrency lacks the intrinsic value of money to serve this purpose. According to him, the appeal of Bitcoin still rests on speculation rather than economic use. The remarks from Schiff follow a fresh debate over alternatives to the U.S. dollar amid rising inflation and escalating government debt. The economist further said that Bitcoin still has fundamental monetary constraints despite increased political and regulatory backing for crypto in the U.S. Peter Schiff Rejects Bitcoin as Reserve Money In an interview with Tucker Carlson, Schiff claimed that a global reserve asset had to be reliable in storing value, liquid during crises, and demand-insensitive to speculation. Schiff argued that Bitcoin is neither generating income nor consumable, and is not useful in industries. He said the driving force behind the demand for the coin is expectations of a higher price in the future. Schiff said Bitcoin was not money and would never be, as reserve assets must retain value beyond resale to further buyers. He further added that the scarcity, longevity, and industrial applicability of gold have always met these requirements. Schiff has consistently argued for the precious metal over the flagship crypto. Last, there was a Bitcoin vs. gold debate between the renowned economist and Binance founder Changpeng “CZ” Zhao. CZ had presented his argument in support of BTC, based on verifiability, utility, scarcity, and performance over the years. Meanwhile, during the Tucker Carlson interview, Schiff also claimed that central banks keep gold because its price is not affected by technology or investor sentiment. He further argued that central banks’ actions provide sufficient evidence that Bitcoin is not a reserve currency. Although crypto is gaining popularity, gold and not Bitcoin are still the…

---

Filed under: News - @ January 26, 2026 9:28 pm