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Peter Schiff, CEO and chief global strategist of Euro Pacific Capital, argues that efforts to connect Bitcoin to the AI trade are misguided.
Schiff contends that artificial intelligence poses a threat to Bitcoin, as AI competes for speculative capital, electricity, and data center resources rather than supporting Bitcoin prices.
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Schiff has recently commented on other major market events. He noted that the 30-year Treasury yield climbed above 5.3 percent as U.S. national debt topped $39.9 trillion. Earlier, Schiff reported that Strategy sold 1,690 BTC and $653 million in MSTR shares, reducing its Bitcoin yield.