ποΈ @nat brunell made a commendable effort trying to talk sense into Peter Schiff β but honestly, it's like talking to a brick wall.
The man clings to his anti-#Bitcoin stance with the same dogmatic fervor as Senator Warren. That kind of ideological rigidity often signals either a lack of understanding, a fixed mindset or worse, an agenda.
Still, Schiff did ask one good question in over an hour of talking:
βIf Bitcoin is so great, why are central banks accumulating gold and not Bitcoin?β
Hereβs the answer:
π§ Why Central Banks Choose Gold (for now) over #Bitcoin:
πΉ They already own gold and have a vested interest in preserving the fiat + gold system they control.
πΉ Bitcoinβs volatility & regulatory uncertainty still spook most institutional actors.
πΉ Lack of understanding + perceived risk remains high, especially among older central bankers.
πΉ Loss of monetary control β Unlike gold, central banks can't manipulate or control Bitcoin. It is pure monetary competition and a threat to their power.
πΉ Custody and infrastructure challenges β Managing Bitcoin requires a secure, digital-native setup most central banks aren't ready for.
πΉ IMF/BIS pressure β Supranational institutions actively discourage Bitcoin adoption, especially for emerging markets (see: El Salvador).
πΉ Geopolitical optics β Buying Bitcoin would signal alignment with a pro-sovereignty, anti-establishment monetary movement. Thatβs a political no-go for most central banks.
So yes, Peter β there is a reason. And it has everything to do with control, legacy bias, vested interests and fear of monetary truth.
Coin Stories Podcast | Talking Bitcoin
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