I'm a fan of Peter Schiff. At a macro-level, he's dead-on when it comes to what's really happening with the economy. And while he's been on record that he's a believer in blockchain technology, he's been very clear on his position about Bitcoin and other cryptocurrencies: they're a fraud. Which is why I was so surprised to hear him make such an articulate and impassioned argument for the forces driving Bitcoin's growth and adoption, namely bloated central governments and crony capitalism.
While Mr. Schiff was making a case for his preferred hedge investments, gold and other commodities, it could have easily been an argument for Bitcoin.
On the precipice of a systemic collapse of centralized financial markets, we face a choice: we can invest in the way things have always been, or invest in the way things will be. Neither come without risk, but given where the world is heading, what feels more logical: placing your faith in a rock dug up from the ground, melted and stored back underground; or placing your trust in a decentralized network of computers running immutable code that governs the supply and exchange of an equally finite global asset that moves directly between individuals at the speed of information.