Bitcoin faces renewed scrutiny following the stall of the CLARITY Act in the US Senate, prompting sharp criticism from economist Peter Schiff who declared the cryptocurrency worthless. According to social media statements published on September 16, 2026, Schiff argued that the digital asset’s limitations stem from its own design rather than missing congressional regulation, contrasting sharply with long-term forecasts from institutional figures like Bitwise Chief Investment Officer Matt Hougan, who projects a seven-figure valuation by 2035.
Peter Schiff Dismisses Bitcoin Value After Senate Delay
Reacting to the legislative setback, economist Peter Schiff took to the platform X to reiterate his long-standing skepticism. According to Schiff, the fundamental flaws of the cryptocurrency reside within the asset itself rather than the presence or absence of federal oversight. Schiff has consistently characterized the cryptocurrency as a speculative instrument lacking intrinsic value or economic utility, rejecting the narrative that positions it as digital gold in favor of traditional precious metals.
https://x.com/PeterSchiff/status/2100053615943524644
Bitwise CIO Maintains Long-Term Price Target
While Schiff maintains a bearish outlook amid current market contractions, other industry leaders project substantial growth over the coming decade. Bitwise Chief Investment Officer Matt Hougan recently offered a contrasting perspective, asserting that a price target of 1,3 Millionen US-Dollar per bitcoin by 2035 remains achievable. According to Hougan’s projections, reaching that threshold would represent a price increase of more than 1.500 Prozent from current trading levels.
Frequently Asked Questions
Why was the stalled CLARITY Act a setback for the crypto sector?
The CLARITY Act stalled in the US Senate, triggering a sharp reaction across the decentralized finance sector and renewing debates over federal oversight for digital assets.
Why does Peter Schiff call Bitcoin worthless?
According to economist Peter Schiff, Bitcoin functions purely as a speculative instrument without intrinsic value or economic utility, meaning its challenges originate from the asset’s core design rather than US legislation.
What do optimistic market analysts project for Bitcoin’s future?
Bitwise CIO Matt Hougan projects that Bitcoin could reach 1,3 Millionen US-Dollar by 2035, representing a potential gain of more than 1.500 Prozent from current market levels.
Disclaimer: The publisher’s board and majority shareholder, Bernd Förtsch, holds direct and indirect positions in financial instruments or related derivatives concerning Bitcoin that may benefit from ensuing price movements.
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