Peter Schiff 'Suprised' by Bitcoin’s Resilience but Expects New Lows

Peter Schiff on Sunday said Bitcoin’s (CRYPTO: BTC) refusal to crash has caught him off guard, even as he still expects the token to hit new lows. Why Bitcoin Held Up While Gold Reversed Schiff told The Wolf Of All Streets podcast that gold and Bitcoin both rallied on the same debasement-trade narrative after Treasury Secretary Scott Bessent announced bond buybacks, but only one asset kept its gains. Gold ran from $4,000 to roughly $5,500, then fell back near $4,000. Hawkish Fed comments on inflation briefly pushed it to $4,600 to $4,700 before it slid right back down.

Meanwhile, Bitcoin traded near $60,000 before that same Fed news and now sits around $85,000, holding onto most of its gains instead of giving them back the way gold did. “I don’t really know what’s holding it up,” Schiff said, adding that he still expects Bitcoin to “make new lows” eventually, he just thought it would have happened by now. Why Schiff Still Expects Bitcoin to Fall Schiff credited Bitcoin’s strength to the same forces driving the Magnificent Seven tech rally rather than genuine demand for a debasement hedge.

He pointed out that Bitcoin rallied, went sideways, then rallied again instead of breaking out cleanly, raising the question of whether it is forming another top rather than a durable base. Moreover, Schiff pointed to the midterm elections as another risk for Bitcoin, arguing Republicans politicized the token by courting crypto donors and funding. That dynamic means Democratic control of Congress could turn hostile toward the industry just as Bitcoin’s political tailwind fades. Why Schiff Sees a Bigger Debt Crisis Ahead Schiff said the bond market has already broken, pointing to a bear market now six years old following a 40-year bull run.

He warned that the national debt, already above $40 trillion, could face interest rates near 8% within a few years, pushing annual interest costs toward $4 trillion and forcing budget deficits toward $6 trillion. He expects the government to respond with heavy money printing, though he noted that approach fails to solve the problem since it drives prices higher at the same time. What Schiff Recommends Instead Schiff told investors to buy durable goods now before prices rise further, then build exposure to gold and silver as a hedge.

He said Bitcoin holders worried about downside could shift part of their position into metals, and he urged diversifying away from US bonds and domestic tech stocks toward international markets, value stocks and natural resources. Photo via Shutterstock Read Also: Bitcoin, XRP Get the Spotlight—Could These 5 Altcoins Be Next?