Peter Schiff concedes Bitcoin has a use case—as a hedge against Saylor’s Bitcoin-heavy strategy.
Short-seller Jim Chanos holds Bitcoin to offset risk from his bearish position on MSTR, Schiff said.
Despite Bitcoin’s price rally, Schiff continues to dismiss it as hype-driven and unsound.
Peter Schiff, one of Bitcoin’s most relentless critics and a staunch gold advocate, surprised crypto enthusiasts by admitting that Bitcoin has a valid use case—just not the kind its supporters might hope for.
In a recent post on X, Schiff pointed out that famed short-seller Jim Chanos is using Bitcoin to hedge his short position against Strategy, the largest corporate holder of Bitcoin.
I've often said there's no actual use case for Bitcoin. It turns out I was wrong. @RealJimChanos found a valid reason to own Bitcoin. He bought it to hedge his short position in $MSTR. So @Saylor has ironically created a use case for Bitcoin, just not the use case he had in mind.
— Peter Schiff (@PeterSchiff) May 14, 2025
Schiff Explains Chanos’s Bitcoin Hedge Against Saylor’s Strategy
Schiff noted the irony in this development, adding that Saylor, through his aggressive B…
The post Peter Schiff Admits Bitcoin Has a Use; As a Hedge Against Saylor’s Strategy appeared first on Coin Edition.
