Peter Schiff Dismisses Bitcoin Surge, Cites De-Dollarization Risks

Renowned financial commentator Peter Schiff has downplayed Bitcoin’s recent price rally, asserting that the cryptocurrency is not truly “skyrocketing” despite nearing an all-time high. His remarks came in response to critics questioning his silence as Bitcoin surged past the $105,000 mark earlier this week.

On Tuesday, Bitcoin briefly reached an intraday high of $104,836 before retreating slightly amid broader market weakness, including a sell-off in traditional safe-haven assets like gold. At its peak, BTC was within 3.8% of setting a new lifetime record.

Schiff, a longtime Bitcoin skeptic, used the opportunity to emphasize macroeconomic factors impacting the rally—particularly growing global concerns over the U.S. dollar’s stability. He pointed to the 10-year U.S. Treasury yield climbing to nearly 4.5% as a key indicator of waning investor confidence in American fiscal policy.

“Despite the trade truce, the world is losing confidence in the dollar and our ability to get our fiscal house in order,” Schiff wrote on social media. “The consequences of de-dollarization will be profound.”

Bitcoin’s price movements are increasingly being tied to shifts in global economic sentiment, especially amid geopolitical uncertainty and inflationary pressures. While many in the crypto community interpret BTC’s resilience as a sign of its maturing role as a store of value, critics like Schiff continue to caution against overestimating its rise.

As institutional interest grows and macroeconomic indicators fluctuate, Bitcoin remains a focal point of debate among traditional economists and digital asset advocates alike. Schiff’s latest comments underscore the broader conversation about the future of fiat currencies and the role of decentralized assets in a changing global financial system.