Peter Schiff has been calling it for years: the collapse of Bitcoin, the downfall of Technique, the inevitable second when the numbers cease going up and the entire home of playing cards comes crashing down.
Now, with Michael Saylor’s newest Bitcoin buy pushing its holdings previous 500,000 BTC, Schiff sees it as nothing greater than one other delay earlier than the inevitable. In his view, there is just one factor retaining Bitcoin afloat at this level – Technique’s relentless shopping for.
The second that stops, he’s satisfied, each Bitcoin and Technique itself will crash, with Technique dealing with outright chapter.
Schiff vs. Technique, Bitcoin and Saylor
This isn’t a brand new argument from Schiff, however with Bitcoin hitting an intraday excessive of just about $88,000 and Technique securing one other $711 million by its newest most well-liked inventory providing, Strife (STRF), he’s doubling down.
His critique is straightforward: Technique’s whole play hinges on with the ability to hold elevating cash, hold issuing inventory and hold convincing traders to pour additional cash right into a enterprise that, by conventional metrics, doesn’t make sense.
The one method Bitcoin will not collapse is that if MSTR continues shopping for indefinitely. However in some unspecified time in the future you won’t be able to promote any extra MSTR inventory or borrow cash to maintain shopping for. Then each Bitcoin and MSTR will crash, sending MSTR into bankrupt.
— Peter Schiff (@PeterSchiff) March 24, 2025
Schiff, ever the Bitcoin antagonist, sees this as the right setup for catastrophe. However right here’s the irony: whereas he continues to tear down Bitcoin and its largest company believer, he’s additionally quietly stacking sats.
Not by shopping for, after all. That may be towards every thing he has ever preached. As a substitute, he’s letting others do it for him.
Schiff’s Bitcoin reserve
On his 62nd birthday, he publicly shared a Bitcoin handle, inviting donations. The reasoning? He is not going to purchase Bitcoin, however he isn’t against receiving it from others. So long as he doesn’t promote, he considers himself constant.
Up to now, the steadiness in Schiff’s public pockets sits at 0.053 BTC, price about $4,710. Not precisely whale standing, however for a person who has spent years dismissing Bitcoin as nugatory, it’s a telling contradiction.
Whether or not it’s hypocrisy, irony or simply good old style opportunism, Peter Schiff stays Bitcoin’s loudest critic – and now, in a small however simple method, a participant within the very system he insists is doomed to fail.
