Peter Schiff used his latest show to argue that Bitcoin’s recent weakness is not the main event. The longtime gold advocate said the market has not fully priced in political risk, and he expects a larger decline. Bitcoin was around $75,900 when he spoke, roughly near Strategy’s average purchase cost. That detail matters because it puts the company’s position under more pressure, at least on paper.
Political Support in Focus
Schiff linked Bitcoin’s earlier rally to the 2024 election result. He recalled that after Donald Trump’s win, Bitcoin first moved modestly, then climbed strongly to about $126,000. Now he thinks the same dynamic could work in reverse. In his view, investors may be underestimating what Republican midterm losses could mean for crypto policy. He expects the political backing that helped Bitcoin to fade, and he says that could hurt prices. This is a prediction, not a settled fact. Markets can react to many things at once, and political signals are often messy.
2028 Election Risk
Schiff also raised the 2028 presidential race. He predicted Democrats would win the White House and build a strong majority in Congress. If that happens, he argued, the regulatory climate for Bitcoin and crypto firms would become less friendly. He went further, suggesting a Democratic administration in 2029 might abandon plans to expand the US strategic Bitcoin reserve. He even said it could sell the reserve’s Bitcoin regardless of price. That is a strong claim, and it depends on many political and legal steps. Still, it captures his main point: he believes Bitcoin’s price has been supported by favorable politics, and that support may not last.
Strategy and Metals
Schiff criticized Strategy’s long-running Bitcoin buying. He said the company has purchased Bitcoin for more than six years, yet the price is now only slightly above its average cost. He argued that gold or the S&P 500 would have delivered better returns over the same period. He also said the results fall short of Michael Saylor’s earlier talk of 30% annual gains. Meanwhile, Schiff noted Bitcoin fell about 3% over the week while gold rose 2.75% and silver gained 2%. He sees Bitcoin’s link to the Nasdaq as another sign it is not a safe haven. His advice to Bitcoin holders was simple: sell and move to physical gold and silver. That is Schiff’s view, not investment advice. Readers should weigh it against the full market picture.
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