Peter Schiff Dismisses Bitcoin Surge, Cites De-Dollarization Concerns
As Bitcoin flirts with its all-time high, financial commentator and gold advocate Peter Schiff remains unimpressed.
The vocal critic of cryptocurrencies argued this week that Bitcoin’s recent price move isn’t as remarkable as enthusiasts suggest, challenging the narrative that BTC is in the midst of a major breakout.
The remarks follow a brief rally that saw Bitcoin touch an intraday peak of $104,836 before easing back slightly. At current levels, the asset sits just under 4% away from charting a new historic high. While much of the crypto community celebrated the rally, Schiff was quick to downplay the excitement.
“Bitcoin isn’t skyrocketing,” he stated, responding to criticism over his relative silence during the price upswing. His comments were a rebuttal to the notion that Bitcoin’s recovery above $105,000 marks the beginning of another parabolic move.
Schiff instead redirected attention toward macroeconomic pressures, particularly the growing distrust in the U.S. dollar. With the yield on 10-year Treasuries nearing 4.5%, Schiff sees the trend as a signal of weakening global confidence in America’s financial trajectory.
“The world is losing faith in the dollar,” he posted on X, formerly Twitter. “Even with the trade truce in place, our inability to rein in spending is catching up to us. De-dollarization is accelerating, and the fallout could be enormous.”
Bitcoin’s gains this week coincided with declines in traditional safe havens like gold, reinforcing the growing divergence between the two assets as investors reassess how they hedge against economic uncertainty.
While Schiff continues to argue that gold is a more stable store of value, Bitcoin’s persistent climb and increasing institutional inflows suggest the market may be leaning toward digital assets for long-term protection.
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