PeterSchiff

As the GENIUS Stablecoin Act advanced through the House, Peter Schiff dismissed USD-pegged assets as "flawed" tokens tied to a falling currency.
Peter Schiff has criticized the USD stablecoin just as the stablecoin bill aka GENIUS Act moves through the House, referring to what he calls 'false' dollar tokens.
Schiff's comments come as US President Donald Trump has asked House members to quickly pass the bill so he can sign it into law immediately.


While many experts believe that USD-pegged stablecoins will promote dollar supremacy, Schiff emphasized that fiat currency itself is losing value.
Peter Schiff advocates Gold Stablecoins over USD Stablecoins.
A day earlier, US President Donald Trump personally endorsed the GENIUS Stablecoin bill, adding that it would "make America the undisputed leader in digital assets." Expressing strong skepticism, these tokens will not fare well when the US dollar itself is losing its value. In his message on the X platform, Schiff wrote:
“I get Bitcoin, but not U.S. dollar stablecoins. If you’re going to introduce a third party custodian, why settle for a token backed by a flawed fiat currency like the dollar, when you can own one backed by gold?”

Peter Schiff added that gold-backed stablecoins offer the same liquidity as USD stablecoins but the added benefit of being a store of value. Schiff highlighted that stablecoins are primarily used for cryptocurrency trading, rather than serving as a tool for broader economic transactions.
Fred Krueger shatters the chef myth.
While Peter Schiff believes that stablecoins will not contribute to broader economic transactions, noted Bitcoin investor Fred Kruger believes that the House's passage of the Genius Act will change the game of how transactions are made.
Kroger noted that in the next 12 months, major e-commerce companies, starting with Amazon, will begin accepting stablecoins. Last week, Shopify announced a partnership with Coinbase and Stripe to facilitate stablecoin payments.
He attributes this change to the regulatory clarity provided by the GENIUS Act, which ensures:
Compliance with AML and KYC requirements.Consumer confidence through safety assurances.Possible incentives and discounts for adoption.Key benefits for cross-border shipping.
Kruger believes the development of a stablecoin will be transformative for the crypto-economy, comparing it to the dot-com boom of 1999.

#stablecoin #PeterSchiff #usd #CryptoNewss #TRUMP

Peter Schiff, the well-known economist and outspoken Bitcoin critic, has once again taken aim at the leading cryptocurrency. This time, he questioned BTC’s reputation as “digital gold,” suggesting that its role as a strategic reserve is rapidly losing credibility.

Schiff Fires Back: “Gold Soars, Bitcoin Drops”
In a recent comment, Schiff argued that Bitcoin is failing to act as a hedge against inflation, especially as concerns over stagflation and tariffs intensify.

“Tariff uncertainty is weighing on financial markets. Gold is hitting record highs while Bitcoin is falling. Goodbye strategic Bitcoin reserve,” he remarked sarcastically.

According to Schiff, the very idea of holding Bitcoin as a reserve asset may no longer make sense.

Crypto Community Fires Back: “Bitcoin Is More Than Just a Daily Chart”
His remarks, unsurprisingly, sparked backlash across the crypto world. On-chain analyst Erik Huisman fired back:

“While people like Trump and Larry Fink are playing 4D chess, Peter’s staring at a daily chart. Grow up, Peter. Real leaders see something you clearly don’t.”

Prominent Bitcoin advocate Dan Held also joined the conversation, mocking Schiff with a meme and suggesting that Schiff’s constant criticisms have lost their impact.

The Ironic Twist: Schiff Shows Interest in Holding BTC?
What raised eyebrows even more was that on his 62nd birthday, Peter Schiff surprised many by expressing interest in holding BTC in a hardware wallet — a remarkable shift for someone known for attacking Bitcoin for years.

Was it symbolic? A genuine change of heart? No one knows for sure.

Market Snapshot
Bitcoin has been highly volatile in recent days. After briefly touching $88,000, it dropped to $83,000, then rebounded slightly to $83,148.79, marking a 0.28% gain over 24 hours.

Conclusion: Is Schiff Softening His View, or Just Playing the Same Old Tune?
Given the turbulent market and Schiff’s recent comments, some wonder if the long-time critic is rethinking his stance on Bitcoin — or simply doubling down on his usual skepticism.
Regardless, the crypto community remains firm: Bitcoin continues to be viewed as digital gold by its believers, even amid price swings. And short-term volatility isn’t enough to shake long-term conviction.

#BTC , #BitcoinReserve , #GOLD , #CryptoNewss , #PeterSchiff

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$BTC Bitcoin’s future looks uncertain as economist and gold advocate Peter Schiff warns that a prolonged Nasdaq downturn could trigger a steep decline in the cryptocurrency’s price. According to Schiff, if the Nasdaq Composite officially enters a bear market, Bitcoin could fall below $65,000—and in a worst-case scenario, it might crash to $20,000 or even lower.
Bitcoin’s Correlation With Nasdaq Spells Trouble
In a social media platform X (formerly Twitter) post on March 16, Schiff highlighted the historical correlation between Bitcoin and Nasdaq. He pointed out that if a 12% Nasdaq correction translates into a 24% Bitcoin decline, then a 20% Nasdaq drop could push Bitcoin to around $65K.
However, Schiff cautioned that bear markets often result in much larger losses, referencing past financial crises such as the Dot-com bubble (2000), the 2008 financial crash, and the 2020 COVID-19 market collapse.
"If this bear market bottoms with just a 40% decline, that would put Bitcoin at about $20K. However, my bet would be that a drop of that magnitude would accelerate Bitcoin’s collapse to much lower levels," Schiff warned.
Gold Gains While Bitcoin Struggles
Schiff emphasized the contrasting performance of gold, which has surged 13% since Nasdaq’s peak in December 2023. He predicted that if this trend continues and the stock market plunges, gold could surpass $3,800, especially if the U.S. dollar weakens.
He further argued that such a divergence between gold and Bitcoin would undermine Bitcoin’s credibility as a store of value, making it harder for governments to justify holding Bitcoin in strategic reserves.
ETF Investors May Dump Bitcoin Holdings
Schiff also predicted a wave of Bitcoin selloffs if the market downturn continues. He suggested that Bitcoin ETF investors could start liquidating their holdings, further accelerating the crash.
"With all that selling, it will be impossible for MicroStrategy (MSTR) to sell enough Bitcoin to avoid bankruptcy," he claimed, referencing Michael Saylor’s Bitcoin-heavy strategy.
However, Schiff later clarified that his statements were not a serious analysis but rather an observation. Still, he maintained that if the Nasdaq drops 20%, Bitcoin is likely to trade below $65K.
Bitcoin Bulls Remain Optimistic
Despite Schiff’s bearish outlook, many analysts remain bullish on Bitcoin’s long-term trajectory.
Tim Draper maintains his $250,000 Bitcoin price prediction for 2025.Tom Lee expects Bitcoin to be the top-performing asset of the year.Standard Chartered projects a future $500,000 Bitcoin valuation.Michael Saylor envisions Bitcoin reaching $13 million by 2045.
Additionally, the White House Crypto Summit has reinforced market confidence, with former President Donald Trump expressing support for Bitcoin and discussing a strategic Bitcoin reserve.
Conclusion
Peter Schiff’s warnings serve as a reminder of Bitcoin’s volatility and its correlation with traditional markets. While some believe that a Nasdaq bear market could drive Bitcoin below $65K—or even as low as $20K—others argue that regulatory clarity, institutional adoption, and halving cycles will sustain Bitcoin’s upward momentum.
Investors should closely monitor macroeconomic trends and market movements to navigate potential risks and opportunities in the evolving crypto landscape.
The post appeared first on CryptosNewss.com
#bitcoin #BitcoinForecast #PeterSchiff $BTC

As Uncle Sam takes full custody of 69,370 Bitcoins seized from the Silk Road, speculation is heating up! 🚀 Critics like #peterschiff are having a field day, suggesting the government might offload the stash before the 2024 elections—just like Germany’s crypto sell-off! 🇩🇪

Schiff even took a playful jab at Bitcoin mega-bull #MichaelSaylor , saying #MicroStrategy should borrow $4.3B and buy the whole lot! 😆 But the big question remains:Will Saylor step in? 🧐

With Bitcoin potentially dropping below $50K if a liquidation happens, traders are on edge. 🛑 And with the election around the corner, selling off Bitcoin could sway those crypto-friendly voters! 🗳

#Bitcoin❗ $BTC

Peter Schiff, the renowned Bitcoin critic and gold enthusiast, has dropped a jaw-dropping idea: creating a U.S. government token with a limited supply, much like Bitcoin's 21 million coins. Instead of building a BTC reserve, Schiff suggests a government-backed crypto, potentially dubbed USAcoin, running on a "modernized blockchain."
🤔 Is Peter Schiff Warming Up to Crypto?
Schiff has long criticized Bitcoin, calling it everything from a “bubble” to a “Ponzi scheme.” Yet, his latest proposal mirrors key elements of Bitcoin’s design: scarcity, transparency, and decentralized technology. The irony isn’t lost on the crypto community.
Schiff’s reasoning?
He believes the U.S. government needs its own blockchain-based currency to stay relevant in the digital age—one that could rival Bitcoin’s appeal while maintaining the government’s control over monetary policy.
⚡ Why USAcoin Could Be Big (or a Total Flop)
Limited Supply: Like Bitcoin, this feature could drive demand, ensuring the token retains value over time.
Government-Backed: A token with federal endorsement might gain quick legitimacy but would likely come with heavy centralization.
Schiff’s Hypocrisy: By adopting blockchain principles he once dismissed, Schiff is inadvertently validating Bitcoin’s core concepts.
🙃 Crypto Community Reacts
Critics and enthusiasts alike are having a field day with Schiff’s USAcoin idea:
“So Peter hates Bitcoin, but now he wants to clone it? Make it make sense!”
“Listing on Binance when? 🚀”
“USAcoin: Blockchain innovation meets government overreach.”
🌐 The Bigger Picture
As central bank digital currencies (CBDCs) gain traction globally, Schiff’s proposal isn’t entirely far-fetched. But whether USAcoin would succeed or simply highlight Bitcoin’s superiority remains to be seen.
For now, the crypto world is watching and waiting—could USAcoin actually happen, or is it just Schiff’s way of avoiding admitting defeat?
Your thoughts: Would you invest in USAcoin, or stick with Bitcoin’s proven legacy?
#USAcoin #Peterschiff #CryptoDrama #BTCvsUSAcoin #BlockchainRevolution"