Some brief context: Bitcoin burst up from glances of support at the $92,500 and $93,000 levels earlier this month. On Wednesday, Jan. 15th, the world\u2019s first cryptocurrency flew over $100,000 in daily spot prices for the fourth time since December.<\/p>\n
This time, BTC may stay above medium-term support for the $100,000 mark. Strong whale moves in the old Satoshi blockchain\u2019s assets and robust network activity are signal<\/a> portents for the rally to continue.<\/p>\n Meanwhile, EuroPacific Capital founder and chief global strategist Peter Schiff posted a note on X this week to remind readers that \u201cBitcoin is a meme coin.\u201d But is that true? And if so, does it mean gold is nothing more than a \u201cmeme rock,\u201d as one feisty reply said?<\/p>\n Remember, Bitcoin is a meme coin.<\/p>\n \u2014 Peter Schiff (@PeterSchiff) January 21, 2025<\/a><\/p>\n\n Meme coins are cryptocurrencies that feature a meme with a public and automated blockchain currency maintained by cryptographic security. In a 2022 article, the New York Times defined memes<\/a> as \u201ca piece of media that is repurposed to deliver a cultural, social or political expression, mainly through humor.\u201d<\/p>\n For example, President Donald Trump supporters recently launched a TRUMP meme coin on Solana. On January 21, the day of the incoming president\u2019s inaugural, it was the<\/a> top trending meme coin in the cryptoverse.<\/p>\n So, is Bitcoin a meme coin?<\/p>\n According <\/a>to Coinbase, meme coins \u201care cryptocurrencies often inspired by internet memes or trends.\u201d But the financial crisis of 2008 inspired Bitcoin, not a meme or online fashion.<\/p>\n According<\/a> to Bankrate, \u201cA meme coin is a type of cryptocurrency that draws its inspiration from internet memes, characters or trends.\u201d However, Bitcoin draws its inspiration from cryptography and P2P networks for distributed databases.<\/p>\n According <\/a>to Investopedia, \u201cA meme coin is a cryptocurrency named after characters, individuals, animals, artwork, or anything else in an attempt to be humorous, light-hearted, and attract a user base by promising a fun community.\u201d<\/p>\n Meanwhile, Bitcoin is not derivative of any character, individual, or artwork. It is original and one of a kind, just like every digitally serialized and protected bit of coin on its network.<\/p>\n So, it seems as if Peter Schiff is just doing more Peter Schiff things.<\/p>\n The post Peter Schiff on Bitcoin: \u2018It\u2019s Just a Meme Coin\u2019 \u2013 Fact or Fiction?<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Some brief context: Bitcoin burst up from glances of support at the $92,500 and $93,000 levels earlier this month. On Wednesday, Jan. 15th, the world\u2019s first cryptocurrency flew over $100,000 in daily spot prices for the fourth time since December. This time, BTC may stay above medium-term support for the $100,000 mark. Strong whale moves […]<\/p>\n","protected":false},"author":0,"featured_media":38291,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-38290","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38290"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=38290"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/38290\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/38291"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=38290"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=38290"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=38290"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Peter Schiff Questions Bitcoin\u2019s Value<\/h2>\n
Is BTC a Meme Coin?<\/h2>\n