Short News View Non-AMP

Peter Schiff Slams Bitcoin Super Bowl Ad, Sparks Debate

Published by
Sohrab Khawas

Peter Schiff criticized a Bitcoin Super Bowl ad, accusing it of false advertising for claiming Bitcoin is backed by energy. He argued Bitcoin neither stores nor can be redeemed for energy, urging FTC intervention. In response, Dan Victor, CFA, highlighted that Bitcoin relies on decentralized computing power, which requires energy. Schiff dismissed this as semantics, asserting Bitcoin resembles fiat currency, backed by faith rather than tangible assets like gold. This sparked renewed debate over Bitcoin’s intrinsic value, especially as mainstream promotions like Super Bowl ads amplify crypto’s reach.

Sohrab Khawas

Sohrab is a passionate cryptocurrency news writer with over five years of experience covering the industry. He keeps a keen interest in blockchain technology and its potential to revolutionize finance. Whether he's trading or writing, Sohrab always keeps his finger on the pulse of the crypto world, using his expertise to deliver informative and engaging articles that educate and inspire. When he's not analyzing the markets, Sohrab indulges in his hobbies of graphic design, minimal design or listening to his favorite hip-hop tunes.

Recent Posts

Pepe Price Analysis: Dead Cat Bounce or 100% Surge Next?

The rising demand for memecoins amid anticipated altseason has helped Pepe price regain bullish sentiment.…

April 30, 2025

When Will the XRP ETF Be Approved?

The wait for a spot XRP ETF is far from over, but there’s now a…

April 30, 2025

UK Crypto Regulation Introduces New Rules

The UK is stepping up its crypto game — with clear rules, bold reforms, and…

April 30, 2025

U.S. SEC. Delays Decision on Bitwise Dogecoin ETF Until June 15

Wall Street analysts project that the U.S. SEC will approve a bunch of spot crypto…

April 30, 2025

Ethereum Eyes $2000 Breakout Amid Surging On-Chain Metrics: Is a Bigger Rally Ahead?

Ethereum's price has been going up due to the rising buying pressure following overall market…

April 30, 2025

Avalanche Poised for a 250% Upswing—Here’s the AVAX Price Prediction for 2025

Ever since the crypto markets have shown some stability, altcoins like Avalanche have refrained from…

April 29, 2025