Peter Schiff Criticizes Bitcoin as a "Fake Asset"

The evidence from multiple high-authority sources strongly supports the truthfulness of the statement. While the summaries do not contain a verbatim quote of Peter Schiff using the exact phrase 'fake asset,' they provide several public statements that are synonymous in meaning. The Schwab Network post explicitly references a headline where Schiff calls Bitcoin 'Digital Fool's Gold,' a term used to describe a worthless or deceptive imitation. The Satoshi Nakamoto Institute, a highly relevant source, directly quotes him stating that bitcoins 'lack... fundamental intrinsic value,' which is the core argument for considering an asset illegitimate or fake. Furthermore, the CCN article attributes the quote “Bitcoin Has No Future” to him, reinforcing his view of it as a non-viable asset. His own X account serves as a primary source for his frequent and critical opinions on Bitcoin. The consistency across these credible sources, which report on his direct statements and long-held positions, makes it highly probable that he has described Bitcoin in terms equivalent to a 'fake asset.' There is no contradictory evidence presented.