• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Peter Schiff Predicts Bitcoin Market Crisis

user avatar

by Giorgi Kostiuk

a year ago

Financial commentator Peter Schiff has once again stirred the crypto realm by expressing his views on the potential risks of investing in Bitcoin.

Schiff Predicts Looming Crisis

Schiff noted that a crisis could occur when the new US administration decides against purchasing bitcoin. He believes this could trigger panic among investors who bought bitcoin anticipating such purchases. "Once it becomes obvious that the US Government won't be buying bitcoin, those who bought hoping to front-run that buying will sell," Schiff stated.

Schiff on MicroStrategy's Plans

Schiff predicts that as a result, MicroStrategy will fast-track its bitcoin purchases using leveraged funds. The forecast indicates Michael Saylor, executive chairman of MicroStrategy, will have to continue borrowing to prevent market crashes. However, Schiff argues this will only temporarily stabilize the price.

Schiff's Long-standing Criticism of Bitcoin

Schiff has frequently criticized bitcoin as a speculative bubble and has warned that the bubble will burst soon. He has repeatedly blamed institutional players like MicroStrategy for pumping BTC's value.

Schiff predicts that if significant financial dependence on cryptocurrency continues, the market risks facing a severe crisis, starting with MicroStrategy’s stock.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

South Korea Approves Legislative Framework for Security Token Offerings

chest

South Korea's National Assembly approved amendments to the Capital Market Act and the Act on the Electronic Registration of Stocks and Bonds, enabling security token offerings.

user avatarNguyen Van Long

UK Housing Market Sees Surge in Buyer Optimism

chest

The UK housing market is experiencing a significant shift in sentiment due to a sustained sterling correction and falling mortgage rates.

user avatarJesper Sørensen

Sterling Correction Attracts International Investors

chest

The depreciation of the pound has made UK real estate more attractive to foreign investors, particularly in prime London markets.

user avatarSatoshi Nakamura

European Central Bank Moves Forward with Digital Euro

chest

The European Central Bank has advanced to the next stage of the digital euro project, involving over 70 market participants, with potential pilot exercises starting in mid-2027 and issuance expected in 2029.

user avatarLucas Weissmann

CLARITY Draft Redefines Control in Crypto Markets

chest

The CLARITY draft emphasizes access control over asset origin, shifting regulatory leverage towards centralized and decentralized exchanges and custody providers.

user avatarRajesh Kumar

Philippines Implements Blockchain for Government Documentation

chest

The National Printing Office of the Philippines has selected Venom blockchain to digitize government forms, marking a significant blockchain use case.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.