Peter Schiff Slams Bitcoin Again—While Quietly Holding It

Peter Schiff, longtime Bitcoin critic, is once again predicting its collapse. As MicroStrategy’s Bitcoin holdings surpass 500,000 BTC—fueled by another $711 million raised via its new preferred stock offering (STRF)—Schiff argues it’s only prolonging the inevitable. In his view, Bitcoin’s price is being propped up by Strategy’s continuous buying. Once that stops, Schiff believes both Bitcoin and MicroStrategy will crash, potentially driving the company into bankruptcy.

Despite Bitcoin recently hitting an intraday high near $88,000, Schiff remains adamant that MicroStrategy’s business model defies traditional financial logic. He claims the company survives only by issuing stock and persuading investors to keep the capital flowing. To him, it’s a house of cards built on speculation, not fundamentals.

Ironically, while Schiff continues his anti-Bitcoin campaign, he now owns some BTC—just not by purchasing it. On his 62nd birthday, he shared a public Bitcoin address, accepting donations instead. His reasoning? He won’t buy Bitcoin, but he’s open to receiving it. That way, he argues, his stance remains consistent: no financial support for Bitcoin, but no rejection of gifted assets either.

So far, his wallet holds 0.053 BTC—about $4,700—not much, but a symbolic contradiction for someone who’s spent years declaring Bitcoin worthless.

Whether it’s irony or opportunism, Schiff is now—however reluctantly—a Bitcoin participant. His critics call it hypocrisy. He calls it consistency. But as MicroStrategy continues to double down on BTC and Peter Schiff keeps warning of doom, one thing is clear: even Bitcoin’s loudest critic can’t fully escape its gravitational pull.