Peter Schiff: AI is a threat to Bitcoin rather than a benefit

Famous gold bull and economist Peter Schiff posted on social media, refuting the strategy of Bitcoin supporters who bundle artificial intelligence (AI) with Bitcoin for hype, stating that AI poses a threat to Bitcoin rather than a benefit.

Schiff pointed out that there is direct competition between AI and Bitcoin in terms of speculative capital, electricity, and data center resources. More critically, AI may discover vulnerabilities in Bitcoin's code, cryptographic algorithms, wallets, or networks that humans have not yet detected, undermining its security and scarcity foundations.