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Crypto

Economist Peter Schiff says AI not a boon for Bitcoin but a risk factor

Economist Peter Schiff rejected the view that the spread of artificial intelligence will benefit Bitcoin, arguing instead it could become a threat. He said AI could draw speculative money away from Bitcoin and compete with the Bitcoin network for electricity and data centre infrastructure. He also raised security concerns that advanced AI could find vulnerabilities in Bitcoin software or cryptography. Schiff repeated his criticism of Bitcoin and urged selling it to buy gold.

Crypto

Peter Schiff says bitcoin outlook will worsen, warns of AI and quantum risks after Coldcard hack

Bitcoin critic Peter Schiff (피터 시프) raised security concerns after a firmware vulnerability in the Coldcard hardware wallet led to bitcoin being stolen from more than 1,200 addresses, with losses estimated at about $89 million. He said advances in artificial intelligence and quantum computing could make hacking easier and increase risks for bitcoin holders. Researchers attributed the incident to flaws in seed generation and firmware design, not to AI or quantum computing.

Crypto

Canadian billionaire calls Michael Saylor \'bitcoin\'s biggest enemy\' as Strategy sale row intensifies

Canadian billionaire investor Frank Giustra criticised Strategy Chairman Michael Saylor after the company disclosed it sold 1,637 bitcoin for about $102.3 million. Giustra said Saylor has harmed the cryptocurrency rather than helped it, renewing their long-running gold-versus-bitcoin dispute. Strategy said the sale was part of a financial strategy to strengthen its balance sheet. Critics including Peter Schiff argued the firm’s financing structure burdens common shareholders and could lead to further sales and dilution.