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Schiff

Bitcoin Falls Below $100K; Hayes, Schiff, Rochard React to Crash

by admin June 22, 2025

Bitcoin dropped below $100,000 over the weekend, triggering a wider crypto market crash as fresh tensions in the Middle East spooked investors. It started after the U.S. carried out airstrikes on Iran’s nuclear sites, and Iran hit back soon after. The headlines shook global markets and led to a quick sell-off in risk assets.

Bitcoin fell as low as $99,191, breaking below six figures for the first time in several weeks. It’s now down more than 6% compared to the previous weekend. Panic selling took over and forced liquidations, slamming crypto exchanges. Altcoins like Ethereum and Solana tanked too, both dropping in double digits.

This Bitcoin crash wasn’t just about crypto. Investors were pulling out of anything risky, from crypto to tech stocks, as tensions in the Middle East kept getting worse. The sell-off was made worse by liquidations in derivatives markets, which added to the downward pressure.

Commenting on the price movement, Pierre Rochard, CEO of the Bitcoin Bond company, wrote: “Bitcoin has dipped below $100k not because the network relies on the Strait of Hormuz, not because the asset is over-leveraged, but because it’s the easiest to sell globally 24/7 for deleveraging other assets. There’s utility in accumulating it when times are good.”

Peter Schiff, a longtime critic of Bitcoin, questioned buyer interest at current levels.

“Other than @saylor, who’s buying the dip below $100k?” He also pointed to Bitcoin’s relationship with traditional markets.

“Bitcoin is down over 4% from where it traded when U.S. stocks closed on Friday. Given Bitcoin’s positive correlation with risk assets and negative correlation with gold, that indicates that stock futures will open lower and gold higher. Tonight’s session could be interesting.”

Do you hear that? … it’s the sound of the money printers revving up to do their patriotic duty. This weakness shall pass and $BTC will leave no doubt as to its safe haven status. pic.twitter.com/PTfZaAXFp7

— Arthur Hayes (@CryptoHayes) June 22, 2025

Meanwhile, Arthur Hayes, former BitMEX CEO and one of Bitcoin’s most vocal backers struck an optimistic tone. “Do you hear that? … it’s the sound of the money printers revving up to do their patriotic duty. This weakness shall pass and $BTC will leave no doubt as to its safe haven status.”

Despite the sell-off, Bitcoin remains up significantly year-to-date. However, the latest crypto market crash has reminded investors of the asset’s sensitivity to global uncertainty and leverage unwinding. Analysts say continued geopolitical risk could keep volatility high in the near term.

With markets on edge and traditional trading sessions about to resume, Bitcoin’s next move will likely depend on how broader markets react to developments out of the Middle East. For now, caution dominates, and capital is flowing out of crypto as quickly as it entered.

Also Read: Crypto Market Crash! Bitcoin nears 100K, ETH, XRP, SOL, DOGE Falling

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June 22, 2025 0 comments

NFT Gaming

Peter Schiff Says He ‘Gets Bitcoin’ But Not USD-Pegged Stablecoins, Floats Gold-Backed Token Plan

by admin June 21, 2025

Peter Schiff, vocal proponent of gold and a longtime critic of cryptocurrencies and bitcoin

, said he intends to launch his own gold-backed token while taking a dig at the value of U.S. dollar-pegged stablecoins.

“I get bitcoin, but not U.S. dollar stablecoins,” Schiff posted Friday on X. “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?”

In a reply to a user who encouraged him to launch a gold-backed stablecoin, Schiff confirmed: “They already exist. But I do intent [sic] to launch my own.”

His remarks come as the U.S. Senate passed the so-called GENIUS Act to regulate the rapidly growing stablecoin sector, a type of digital currency with prices anchored to an external asset such as fiat currencies. The stablecoin market mushroomed to over $260 billion, with Citi forecasting that it could become a $3.7 trillion asset class by the end of the decade.

These tokens have become a key piece of trading infrastructure and are increasingly popular for cross-border payments and remittances. The market is dominated by U.S. dollar-backed tokens like Tether’s USDT and Circle’s USDC.

Gold-backed tokens, meanwhile, make up a niche but growing segment with a market size of around $2 billion. Contrary to fiat-backed stablecoins, gold tokens are mostly used as a store of value, like their physical version, but on blockchain rails. However, there are ongoing efforts to bring more utility for gold tokens in decentralized finance applications, for example using as collateral for loans.

Read more: Stablecoin Protocol USDT0 Aims to Bring Tokenized Gold Closer to DeFi

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June 21, 2025 0 comments

Kidney For Bitcoin? Peter Schiff &Amp; Michael Saylor Go Head-To-Head

GameFi Guides

Kidney for Bitcoin? Peter Schiff & Michael Saylor Go Head-to-Head

by admin June 17, 2025

Longtime Bitcoin critic and gold advocate Peter Schiff has once again taken a jab at Michael Saylor and his company, MicroStrategy (now rebranded as Strategy), after the firm invested an additional $1 billion in Bitcoin yesterday.

This latest purchase brings Strategy’s total Bitcoin spend to nearly $42 billion, further fueling debate around corporate Bitcoin adoption.

Strategy spent another $1 billion buying Bitcoin last week, raising the total spend to nearly $42 billion. As long as Bitcoin is rising & $MSTR trades at a premium, @Saylor can keep buying. But once Bitcoin crashes and MSTR trades at a discount, creditors will force MSTR to sell.

— Peter Schiff (@PeterSchiff) June 16, 2025

Schiff commented, “As long as Bitcoin is rising & $MSTR trades at a premium, @Saylor can keep buying. But once Bitcoin crashes and MSTR trades at a discount, creditors will force MSTR to sell.”

This isn’t the first time Schiff has criticized Saylor. Their long-standing feud over Bitcoin’s future took a sharper turn when Schiff reacted to a bold February tweet by Saylor, who had written, “Sell a kidney if you must, but keep the bitcoin.”

Responding recently, Schiff tweeted:

“First you told the people to max out their credit cards and mortgage their homes to buy Bitcoin. Now you’re telling them to sell off their organs. Have you no shame?”

Not one to back down, Saylor fired back with a tweet that’s since gone viral:

“Sell Peter Schiff’s kidney, keep the Bitcoin.”

The clash shows just how divided people still are when it comes to gold versus Bitcoin. On one side, there are old-school gold supporters like Schiff, and on the other, Bitcoin believers like Saylor, whose company Strategy keeps doubling down on crypto.

The clash shows just how divided people still are when it comes to gold versus Bitcoin. On one side, you’ve got old-school gold supporters like Schiff, and on the other, Bitcoin believers like Saylor, whose company Strategy keeps doubling down on crypto.

With Bitcoin booming in 2025 and more big players jumping in, Saylor isn’t backing off while Schiff keeps warning that it’s all heading for a crash.

Also Read: “The Bubble Has Peaked”: Peter Schiff on Bitcoin’s Crash

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June 17, 2025 0 comments

GameFi Guides

Bitcoin Critic Peter Schiff Lashes out at Vice President JD Vance

by admin May 29, 2025

Peter Schiff, a prominent gold investor and Bitcoin skeptic, has publicly criticized JD Vance’s recent speech at the Bitcoin 2025 conference. At the conference, Vance praised Bitcoin and cryptocurrencies for creating vast new wealth, but Schiff strongly disagrees. He said, “No actual wealth was created, as these tokens do not represent wealth.”

Instead, Schiff explained, what happened was a “massive transfer of wealth” from early Bitcoin investors to those who bought in later, with capital misallocated and resources wasted along the way.

Vance also explained that Bitcoin acts as a hedge for poor government policies and rampant inflation. Schiff explained that because Vance is a member of the administration implementing those poor policies, Americans require a hedge. Yet, he believes that gold and silver, not Bitcoin, will offer true protection.

He cautions that encouraging people to use Bitcoin as the preferred hedge may lead them to purchase the “wrong asset.” Schiff said that rather than pushing people to buy things like Bitcoin that could do little to protect their money, it would be better if Trump and Vance focused their time developing sensible government policies to lower inflation.

He believes that traditional commodities like gold and silver, as well as sensible regulations, are safer choices. Vance previously maintained that, in spite of its price fluctuations, Bitcoin acts more like a tech stock than a trustworthy inflation hedge. He cautioned that because Bitcoin is an uncertain hedge due to its volatility, investors should put their faith in gold for long-term safety.

Also Read: Peter Schiff Bats for Gold as Safe Haven, Bitcoin a Risk Asset

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May 29, 2025 0 comments

NFT Gaming

Peter Schiff Slams Fed-Backed Bitcoin Plan

by admin May 28, 2025

Popular Bitcoin critic and gold advocate Peter Schiff, in an X post on Wednesday, has raised serious concerns about the new Bitcoin acquisition bill issued by Senator Cynthia Lummis.

While Peter Schiff still holds firm in his belief that Bitcoin poses major risks to the global economy, the Bitcoin critic has expressed strong displeasure about the Fed-backed Bitcoin plan.

Americans are at risk, says Schiff

The bill, which has received notable backing, proposes that the U.S. government expand its Bitcoin holdings with hundreds of billions of dollars from the Federal Reserve.

While the move positions the price of the leading cryptocurrency for more ascent, Peter Schiff believes that the bill has only been issued to solely benefit people who already own Bitcoin at the detriment of the masses.

According to his analysis, the bill will only pose more threat to the U.S. economy as it will worsen the already persisting inflation that has forced the economy into distress.

The @CynthiaMLummis Bill, which proposes that the Federal Reserve create hundreds of billions of dollars out of thin air, substantially worsening the existing inflation problem, then use the newly created money to buy one million Bitcoin, solely to enrich the people who already…

— Peter Schiff (@PeterSchiff) May 28, 2025

Peter Schiff mentioned that the bill is a selfish attempt to enrich the pockets of a few at the expense of the majority of Americans who will be forced to buy the cryptocurrency.

While it is not certain if Peter Schiff has made these claims out of genuine concern for Americans, many believe that it is one of his regular oppositions to major Bitcoin buy attempts.