Peter Schiff’s Long-Standing Bitcoin Critique

Peter Schiff has been warning for years about the collapse of Bitcoin, viewing it as a house of cards destined to collapse. With Michael Saylor’s firms amassing over 500,000 BTC, Schiff believes this merely delays the inevitable failure. He argues that the only thing sustaining Bitcoin is Saylor’s relentless investment strategy.

Schiff vs. Strategy, Bitcoin, and Saylor

As Bitcoin reaches an intraday high of nearly $88,000 and Saylor’s company raises $711 million through preferred stock, Schiff reinforces his argument. He contends that the entire situation depends on the continual inflow of money into Saylor’s business, which relies on convincing investors to buy more stock, despite traditional metrics suggesting otherwise.

> “The only way Bitcoin won’t collapse is if MSTR continues buying indefinitely. But at some point, you will not be able to sell any more MSTR stock or borrow money to keep buying. Then both Bitcoin and MSTR will crash, sending MSTR into bankruptcy.”
> — Peter Schiff (@PeterSchiff) March 24, 2025

Schiff’s predictions paint a dire picture for Bitcoin’s future, yet there’s a twist: while critiquing Bitcoin and Saylor’s strategy, he is acceptably accumulating small amounts.

Schiff’s Bitcoin Reserve

On his 62nd birthday, Schiff shared a Bitcoin address to accept donations, claiming that while he won’t buy Bitcoin, he’s open to receiving it from others, thus maintaining his stance. Currently, his public wallet holds 0.053 BTC, valued at around $4,710. This presents an interesting contradiction for a long-time critic of Bitcoin, who is now, in a limited way, involved in the very market he decries.