Peter Schiff: Questions Bitcoin as digital energy, argues energy is not stored in asset

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Peter Schiff: Questions Bitcoin as digital energy, argues energy is not stored in asset — Schiff questions Bitcoin as digital energy

Peter Schiff, CEO and Chief Global Strategist of Euro Pacific Capital, questions the idea of Bitcoin as 'digital energy.'

Schiff notes that while energy is expended to create Bitcoin, this energy is not inherently stored within the asset itself. He emphasizes that holding Bitcoin does not allow an individual to use its energy directly, as one would with a battery. Instead, he points out that Bitcoin must be sold for dollars, which can then be used to purchase energy.

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Schiff has previously highlighted discounts in digital asset-related securities. He noted that Strategy shares traded below $85.50, well under the company's Bitcoin per share value. In a separate update, he reported that STRC traded at 93.5, leaving early investors down 6.5% and raising the yield to 12.3%.

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