Economist Peter Schiff has renewed his criticism of Bitcoin, warning that holders near current levels will regret not selling. On his July 15 podcast, Schiff acknowledged Bitcoin’s resilience but predicted a potential drop below $50,000 and possibly to $20,000. He also criticized Strategy (formerly MicroStrategy) for selling $450 million in common stock instead of its Bitcoin holdings, arguing the company is trapped. Meanwhile, analysts are reassessing corporate Bitcoin accumulation, with Strategy’s recent small Bitcoin sale changing investor focus toward cash reserves and funding sustainability.
Economist Peter Schiff renewed his criticism of Bitcoin during the July 15 episode of “The Peter Schiff Show,” arguing that investors who hold near the current price will eventually regret not selling, as he expects another major decline.
He also questioned Strategy’s decision to sell $450 million in common stock rather than touch its Bitcoin holdings, saying it shows how boxed Michael Saylor’s company has become.
In the podcast, Schiff admitted that Bitcoin has been surprisingly resilient despite what he believes are growing risks beneath the surface. The economist said that he regretted not buying BTC when he first heard of it 15 years ago, but watching the asset in the last few years had tempered that regret.
“I don’t regret not buying it three, four, five years ago,” he told listeners. “But yeah, 15 years ago, sure, I should have bought it.”
However, he claimed that those who currently hold the cryptocurrency and still refuse to sell will soon rue their choice. Referring to Bitcoin’s current trading range, he argued that resistance is around $65,000 while support is near $58,000. According to him, if that level fails, Bitcoin could fall below $50,000 before eventually hitting rock bottom 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,” he warned.
At the time of writing, Bitcoin was trading near $65,000, having risen nearly 4% following lower-than-expected US CPI data.
Schiff then turned to Strategy, noting the company had gone three straight weeks without buying Bitcoin and had only sold 3,588 BTC last week. Instead, Saylor’s firm raised $450 million through a common stock sale, pushing cash reserves to $3 billion, all while the stock traded at a discount to the value of its Bitcoin.
Schiff called it a needless dilution and argued that Strategy avoided selling BTC only because doing so would tank the price. “Saylor knows if he starts really selling Bitcoin, the price is going to crash,” he claimed. “Now, the problem is it’s going to crash anyway because the market realizes the bind he’s in.”
Analysts are reassessing the corporate Bitcoin accumulation story, according to a recent report from QCP Capital. When Strategy sold 32 BTC out of its over 847,000 BTC stash in late May, the amount changed how investors view such companies. Many now focus on cash reserves, equity issuances, and funding conditions to determine whether future purchases remain sustainable.
