Longtime Bitcoin critic Peter Schiff renewed his bearish stance this week, predicting a massive decline for BTC and urging current holders to exit their positions before it is too late. In a July 15 episode of “The Peter Schiff Show,” Schiff argued that investors clinging to Bitcoin near its current price will soon regret not selling, as he expects another major downturn. He pointed to key technical levels, noting resistance around $65,000 and support at $58,000. If the support fails, he warned, Bitcoin could slide below $50,000 and eventually bottom out at $30,000 or even $20,000. “The people who don’t sell it now, they’re going to be the ones that are going to have a lot of regrets,” Schiff said.
Schiff also turned his attention to Strategy (formerly MicroStrategy), criticizing the firm’s decision to raise $450 million through a common stock sale instead of selling its massive Bitcoin holdings. He claimed the company avoided selling BTC only because doing so would trigger a price crash. “Saylor knows if he starts really selling Bitcoin, the price is going to crash,” Schiff argued, adding that the market already realizes the bind and will cause a collapse even without direct sales. At the time, BTC was trading just below $65,000, buoyed by a favorable U.S. CPI report.
The warnings didn’t stop there. On his personal X account, Schiff explicitly forecasted a roughly 70% drop for Bitcoin, framing the entire asset class as a speculative bubble without intrinsic value. His bearish call is backed by his long-standing preference for precious metals, which he views as true stores of wealth. The comments come as some analysts are reassessing the corporate accumulation narrative. A recent QCP Capital report noted that Strategy’s first-ever BTC sale in late May—just 32 coins out of a stash of over 847,000—changed investor perceptions. Market participants are now paying closer attention to cash reserves, equity issuances, and the sustainability of future purchases rather than simply reacting to headline-grabbing buys.
While Schiff’s warnings are a recurring feature of Bitcoin’s bearish discourse, they carry no direct market-moving weight and should be viewed as one polarizing opinion among many. The prediction has drawn attention, but it is not a confirmed catalyst for any price movement.
