A known gold enthusiast, financial commentator Peter Schiff said Bitcoin (BTC) holders are not actually looking to the asset as a storage of wealth — one of the most commonly touted use cases surrounding the coin.
"I buy gold as a way to store my wealth, as a conservative place to keep liquidity, as opposed to keeping it in dollars or some other fiat currency," Schiff told interviewer Peter McCormack, host of the What Bitcoin Did podcast, during a July 17 episode. "I do think that when people are buying Bitcoin, they're really not looking for that," Schiff added.