Peter Schiff, a longtime Bitcoin critic and prominent gold advocate, has issued a stark warning: the financial turmoil unfolding in 2025 may be the end of the road for the world’s largest cryptocurrency.
In an April 10 post on X, Schiff claimed that the kind of economic collapse that birthed Bitcoin in 2008 will ultimately expose its design flaws and lead to its downfall.
From Genesis to Collapse? Bitcoin’s Origins Under Scrutiny
Bitcoin was born in the wake of the 2008 financial crisis as a decentralized alternative to fiat money and centralized banks. But Schiff believes history is about to repeat itself—with a very different outcome.
“The financial crisis of 2025 will kill Bitcoin,” he asserted, arguing that BTC’s extreme volatility makes it unfit as a safe haven during periods of systemic distress.
His remarks came after a sharp drop across global markets triggered by sweeping new tariffs from President Trump. Over $2 trillion was wiped from the U.S. stock market in days, and Bitcoin ETFs saw $900 million in outflows.
Gold Surges, Bitcoin Slides
While crypto prices continue to decline, gold is surging. The precious metal hit a record high of $3,175 and climbed to $3,221, reinforcing Schiff’s view that gold remains the ultimate safe haven.
He also took aim at the newly created U.S. Bitcoin Reserve, pointing out that its value has fallen by 12%—a loss he says would’ve been avoided if the government had held gold instead.
Despite a 90-day tariff pause that sparked a relief rally in equities, Schiff emphasized that the U.S. dollar fell sharply, losing over 2.3% against major global currencies.
Is This the End of Crypto’s Store-of-Value Argument?
As volatility rocks the markets, Schiff’s critique is gaining traction. With Bitcoin falling while gold rises and the dollar weakens, the store-of-value narrative may face its biggest test yet.
