President of Euro Pacific Capital and critic of the first cryptocurrency Peter Schiff said that no one needs Bitcoin. He also compared the asset's holders to a cult.
“Nobody needs Bitcoin. People only buy it after others persuade them to do so. After acquiring [BTC], they immediately try to attract others to it. It's like a cult," Schiff wrote.
The cryptoskeptic also said that Bitcoin “is not a resource, it is nothing.”
In March, Schiff called for selling the first cryptocurrency and buying gold amid problems at Silvergate Bank.
In May, he announced his own collection of non-fungible tokens based on Bitcoin.
