As Bitcoin (BTC) slides through critical support levels, long-time skeptic and gold advocate Peter Schiff is enjoying his moment in the spotlight. And he's not holding back.
The Government Bailout Theory
Economist Schiff took to X with a provocative claim: the only way Bitcoin reaches a new all-time high is if the U.S. government intervenes and buys massive quantities for a Strategic Reserve. The catch? He argues this would essentially be a taxpayer-funded rescue of Bitcoin speculators—a bailout disguised as strategic policy.
Schiff didn't stop there. In follow-up posts, he turned his fire on financial media outlets, accusing them of legitimizing what he calls a digital pyramid scheme. His argument echoes a familiar concern: if Bitcoin collapses, it won't just hurt overleveraged investors—it'll damage the credibility of institutions that promoted the narrative.
The "Never Sell" Mantra Under Fire
Schiff also challenged one of Bitcoin culture's sacred principles: "never sell." He claims it's a psychological tactic deployed by whales to keep retail investors locked in while larger players quietly exit.
With prices tumbling, many small investors who borrowed against their holdings just to cover living expenses now face forced liquidations—exposing what Schiff sees as deeper structural weaknesses in the ecosystem.
Earlier this week, Schiff laid out his bearish long-term outlook, predicting Bitcoin could drop below $88,000 by 2026. He pointed out that BTC is already down nearly 30% from its peak in dollar terms—and a staggering 42% when measured in gold.
