Peter Brandt slams Bitcoin crowd: ‘Get a life, it’s just an asset’

Amid Bitcoin’s unstoppable rise to new heights, it has been accompanied by enthusiasts as well as naysayers, one of the most popular being veteran trader Peter Brandt, who has recently slammed the cryptocurrency community.

Indeed, Brandt took to social media to write a “counter to the Bitcoin ‘Hodl-or-does-not-count’ crowd,” accusing it of obsession with the world’s first crypto asset and having no life, calling Bitcoin enthusiasts “a bunch of idiots who borrow money to buy pizza,” in a series of X posts on August 5.

A counter to the Bitcoin "Hodl-or-does-not-count" crowd
I began futures trading in 1975 at the Chicago Board of Trade with maybe a thousand dollars in my checking account and little to no savings
If Bitcoin has been around at the time and I would have put all my money into it I…

— Peter Brandt (@PeterLBrandt) August 5, 2025

As it happens, his posts spiraled from what many could interpret as a benign poke to stating that if Bitcoin was the focus of his life “then I had no reason to live,” to finally exploding into an exclamation that “Bitcoin is an asset folks, it’s an asset!!!!,” urging them to “get a life.”

Bitcoin is an asset folks

It's an asset!!!!!

Get a life

those who believe Bitcoin will right all the wrongs in their life will be greatly disappointed

— Peter Brandt (@PeterLBrandt) August 5, 2025

Peter Brandt versus Bitcoin crowd

Naturally, his attitude has attracted a new wave of criticism from the members of the Bitcoin community, some of whom, like senior financial consultant Marcelo Cardenal, have pointed out that “Bitcoin is more than an asset. It represents a mindset valuing personal responsibility.”

However, Brandt replied by correcting him that “Bitcoin seems to be a religion for way too many people” who “actually give Bitcoin a bad image.”

Meanwhile, Michael Saylor, the executive chairman and co-founder of MicroStrategy – recently rebranded to Strategy, as well as a staunch Bitcoin advocate who has spent billions of dollars of his company’s funds to purchase over 500,000 BTC, joined the discussion as well, stressing that:

“Bitcoin is an asset, circulating on a network, governed by a protocol, and rooted in ideology.”

Elsewhere, one of Bitcoin’s most vocal supporters is Robert Kiyosaki, a popular investor, entrepreneur, and author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ who has recently praised the flagship decentralized finance (DeFi) asset as “pure genius asset design” that has made him millions.

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