Gold Bug Peter Schiff Says Bitcoin Could Crash 70% — Here’s the Reality Check
Peter Schiff predicts Bitcoin could tumble to $20K-$30K and slams Strategy's stock sale. Here's what his warning actually means for your holdings.
Longtime Bitcoin critic Peter Schiff is back with another doom call, and this one is specific: he thinks Bitcoin could fall as much as 70% from where it’s trading now, eventually bottoming somewhere between $20,000 and $30,000. He made the case on the July 15 episode of “The Peter Schiff Show,” and he’s not just talking about Bitcoin’s price — he took a swing at Strategy (formerly MicroStrategy) and its founder Michael Saylor along the way.
What Schiff actually said
Schiff laid out specific levels for his prediction. He pointed to resistance around $65,000 and support near $58,000 for Bitcoin at the time. If that support gives way, he argued, the next stop could be below $50,000 — and from there, he expects Bitcoin to eventually hit rock bottom somewhere between $30,000 and $20,000.
His warning to current holders was blunt: those refusing to sell now will regret it. “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 told listeners.
Interestingly, Schiff also admitted some nuance about his own history with Bitcoin. He said he regrets not buying it 15 years ago, when it was worth pennies, but doesn’t regret skipping it more recently. “I don’t regret not buying it three, four, five years ago,” he said. “But yeah, 15 years ago, sure, I should have bought it.”
The Strategy jab
Schiff didn’t stop at price predictions. He also questioned why Strategy, the corporate Bitcoin buyer led by Michael Saylor, raised $450 million by selling common stock instead of using its Bitcoin stash. To Schiff, that decision is a sign the company has boxed itself in — unwilling or unable to tap the very asset it has bet its balance sheet on. He also noted that Strategy had gone three straight weeks without adding to its Bitcoin holdings, which he framed as further evidence of trouble.
At the time Schiff made his comments, Bitcoin was trading just under $65,000, having climbed nearly 4% after a US inflation report came in cooler than expected — a reminder that even amid crash talk, Bitcoin’s price is still heavily influenced by everyday economic data like CPI reports.
Why this matters if you hold crypto
Peter Schiff has been predicting Bitcoin’s collapse for well over a decade, and Bitcoin has, so far, kept climbing through most of his warnings. That track record doesn’t mean he’s wrong this time — but it’s worth remembering that his views come from a well-known gold advocate who has consistently argued crypto has no real value.
For everyday holders, the real takeaway isn’t the specific dollar figures Schiff threw out — it’s the broader reminder that Bitcoin remains volatile, and that big price swings, in either direction, are always possible. If you’re holding BTC, this is a good moment to check whether your position size and timeline still match your comfort with risk, rather than reacting to any single pundit’s forecast, bullish or bearish.
Read more: Strategy’s New Bitcoin Report Card Shows Big Banks Still Get a C-Minus
