Renowned investor and long-time Bitcoin critic Peter Schiff is once again stirring the debate between crypto enthusiasts and traditional asset supporters. According to him, Bitcoin may be nearing a major collapse, just as gold and silver are soaring amid a weakening U.S. dollar and rising global uncertainty.
Gold and Silver Rally, While Schiff Predicts Bitcoin Sell-Off
Schiff warns that many investors could be caught off guard if Bitcoin crashes — especially those who bought it as a hedge against a potential collapse of the U.S. dollar. He believes capital is now flowing back into “safe haven” assets like precious metals, and that Bitcoin is losing its shine in this environment.
His warning comes just as silver surged $1.60 in a single trading session, breaking above $66 per ounce, while gold remains above $4,300. According to Schiff, both metals could reach new all-time highs before the end of the year.
Crisis Ahead? Bitcoin Might Fall Instead of Protect
Schiff argues that the rally in precious metals signals a growing loss of confidence in the U.S. dollar and Treasury bonds. He warns that the American economy is heading toward what he calls a major historical crisis, marked by rising inflation, lower consumer confidence, and higher unemployment — factors that, in his view, could cause Bitcoin to crash rather than protect against it.
Schiff is not alone in his bearish outlook:
🔹 Mike McGlone from Bloomberg Intelligence recently predicted that BTC may sharply decline if demand continues to weaken
🔹 Research firm 10x Research expects crypto hedge funds to sell off $10 to $20 billion in assets, putting downward pressure on markets by year-end
Why Are Gold and Silver Surging?
The main driver of the current precious metals rally is the weakening U.S. dollar, which is hovering near a two-month low. This increases the appeal of dollar-denominated assets like gold and silver.
Another factor is the market's growing expectation of interest rate cuts in 2026. Analysts now forecast that the Federal Reserve could cut rates twice, which would be bullish for non-yielding assets like precious metals and potentially even crypto.
Markets are also watching upcoming U.S. employment data, which could influence the Fed’s future policy decisions.
Saylor Still Bullish on Bitcoin’s Long-Term Value
Despite the bearish predictions, some crypto leaders remain confident. Michael Saylor, head of MicroStrategy, still believes that Bitcoin will surpass gold in market value over the next decade. He sees BTC as the ultimate long-term store of value for the 21st century, regardless of short-term volatility.
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