Peter Schiff, known for his skepticism towards Bitcoin, attends a Bitcoin conference in Las Vegas and discusses his views on the cryptocurrency with interviewers Bonnie Chang and another unknown speaker. He compares the conference's atmosphere to the mortgage bankers conference before the 2008 crash, highlighting the excessive spending and confidence in Bitcoin's continuous rise. Schiff argues that Bitcoin is a speculative bubble fueled by the "greater fool theory" and government pandering, while he advocates for a return to the gold standard, criticizing Bitcoin's lack of intrinsic value and its limited real-world applications compared to gold. He also touches on the potential risks of government involvement in Bitcoin and the misallocation of resources towards crypto ventures, and clarifies that he would only buy Bitcoin if he knew with certainty that its price would increase, while remaining unconvinced of its long-term value and stability.
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