Controversial investor Peter Schiff has surprised many by acknowledging the potential use case of Bitcoin, though in a humorous twist. Despite long-held skepticism, Schiff recently revealed that Bitcoin does indeed have a purpose, referencing Jim Chanos’ strategic Bitcoin purchase to hedge his short position on $MSTR stock. 🤯 This came as a surprise considering his long-standing criticism of Bitcoin’s value and Strategy’s aggressive Bitcoin investment strategy. 💰 Schiff jokingly suggests Michael Saylor’s bet on Bitcoin may have inadvertently created a genuine use case for Bitcoin: hedging against potential losses. 📈 His comments come after Schiff criticized Bitcoin’s lack of decoupling from tech stocks and its dependence on speculation, while advocating for gold as a more reliable investment alternative. He further warned that Strategy’s heavy debt load in buying Bitcoin could expose them to significant losses should Bitcoin prices decline significantly. Schiff’s latest critique highlights the potential irony, acknowledging that even his harshest criticisms of Bitcoin have led to unexpected implications within the market.