Bitcoin Sparks Clash Between Mike Novogratz and Peter Schiff
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Galaxy Digital CEO Mike Novogratz reignited a long-running feud with economist and gold advocate Peter Schiff after the latter criticized Bitcoin yet again.
Schiff dismissed Bitcoin’s fixed supply as “arbitrary,” prompting Novogratz to respond on X:
“Why do you hate $BTC so much? You’ve been wrong for a decade. Admit it—it’s liberating.”
Schiff’s Bitcoin skepticism spans over a decade
Peter Schiff has earned a reputation as one of Bitcoin’s loudest critics. Since at least 2011, he’s repeatedly called Bitcoin a bubble, a Ponzi scheme, and “digital fool’s gold.” Despite being wrong about every major rally—including the recent surge above $118,000—Schiff refuses to shift his stance. He remains committed to gold, arguing it holds intrinsic value while Bitcoin does not.
The tension grows with each price milestone
Even as Bitcoin’s adoption accelerates and institutional inflows climb, Schiff continues to argue that it’s a fad with no real utility. Meanwhile, Novogratz and other crypto advocates see Bitcoin as the digital evolution of hard money—scarce, decentralized, and increasingly mainstream.
The back-and-forth underscores the growing divide between traditional asset champions and the new wave of crypto-native investors. As Bitcoin enters price discovery, that tension is only likely to grow.
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