Peter Schiff, the eternal gold enthusiast with a knack for rubbing salt in crypto’s wounds, just floated a fresh doomsday prophecy.
Bitcoin’s price might nosedive all the way down to $75,000.
That’s a steep slide back to April lows, wiping out the gains of Michael Saylor’s flagship vehicle, Strategy. But will it happen?
XDilution and profitability
Now, Strategy isn’t your average Bitcoin hoarder, they aren’t stacking sats, the company clutchingly holds over 640,000 BTC, bought at an average price around $73,981.
But with Bitcoin’s recent dip, Strategy’s stock premium shrank to a mere 1.44 in late September, as investors fret about dilution and profitability.
Schiff’s been hollering about this for months, predicting Strategy shares might soon trade at a discount, which, if true, means selling them could actually lose money. Like paying to lose money, it’s a crypto tragedy.
Stay ahead in the crypto world – follow us on X for the latest updates, insights, and trends!🚀
BTC price
In February, Schiff dreamt up a curious scenario, and said what if Saylor offloading his Bitcoin stash to buy back shares and prop up the stock.
That move would slam BTC’s price into a tailspin, so it’s more a Hollywood plot than Wall Street reality. But Schiff loves stirring the pot, we know that.
Who’s next?
We have to admit, the guy who has been mocked endlessly for gold price predictions is finally tasting a bit of vindication.
Gold just smashed through the $4,000 level for the first time ever, heading toward its best year since disco ruled the charts in 1979.
Schiff’s been crowing on social media about his long string of correct calls, conceding slyly,
“I’ve been right about more things than have happened over the past decade. You just don’t realize that yet.”
So yes, Bitcoin might take a dive, dragging Strategy shares with it, while Peter Schiff sits back, grinning ear to ear with his gold bars.
The market’s a mess, yes, the circus is in town, but the question remains, who’s next to get caught in the chaos?
Cryptocurrency and Web3 expert, founder of Kriptoworld
LinkedIn | X (Twitter) | More articles
With years of experience covering the blockchain space, András delivers insightful reporting on DeFi, tokenization, altcoins, and crypto regulations shaping the digital economy.
