Willy Woo Criticizes Peter Schiff's Bitcoin Stance, Calls BTC a "Squatter in Minds"

Willy Woo, a well-known cryptocurrency analyst, recently took a shot at economist Peter Schiff. He did this for trying to stay relevant by bashing Bitcoin (BTC/USD).

On Thursday, Woo shared his thoughts on X. He pointed out that Bitcoin is more than just digital money. He described it as a “squatter living rent-free in people’s minds.”

Woo added, “After a while, there are only two paths: you buy it and become rich, or you keep hating and turn crazy.”

This comment was a direct response to Schiff. Schiff had sarcastically suggested that the Social Security Trust Fund should sell all its Treasuries to buy Bitcoin. His remark was a playful critique of Bitcoin’s ups and downs. He believes that if the U.S. government were to create a Bitcoin reserve, it could lead to economic disaster.

Schiff’s views on Bitcoin are often controversial. Many accuse him of trying to stir up engagement by frequently mentioning Bitcoin in his posts. Some critics even think he secretly owns Bitcoin, despite his public criticism. Schiff has repeatedly denied these claims.

Earlier this week, Schiff dismissed Bitcoin’s recent surge as a “popular delusion” and the “madness of crowds.” He warned that when the bubble bursts, there will be significant losses. He also cautioned that if the U.S. government starts buying Bitcoin, it could trigger a market crash.

As of now, Bitcoin is trading at $88,160.96. This reflects a drop of 2.36% in the last 24 hours, according to Benzinga Pro. However, it has increased over 16% in the past week.