Economist Peter Schiff has ignited waves of discussion in the cryptocurrency world by calling Bitcoin a 'total scam'.
Peter Schiff's Statement
On May 6, 2025, Peter Schiff posted a provocative message on X, labeling Bitcoin as a 'total scam' inflated by U.S. government stimulus. He dismissed the Strategic Bitcoin Reserve proposal as misleading, casting doubts that have lingered in traditional economic circles.
Market Reaction
The response was swift; Schiff’s remarks trended across financial discussions. Bitcoin withdrawals spiked on major exchanges, while several notable whale wallets moved their holdings to cold storage or liquidated them altogether.
Emerging Investment Directions
Amidst the skepticism surrounding Bitcoin, attention began to shift towards a new project — FloppyPepe (FPPE). Positioned at the intersection of internet culture and real-world utility, it has caught the eyes of investors due to its unique features. Currently priced at just $0.0000002, it is gaining traction.
The comments made by Peter Schiff regarding Bitcoin have provoked skepticism and discussions, while new directions, such as FloppyPepe, are starting to attract investor interest with their innovative offerings.
