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Peter Schiff, a well-known economist, took to social media on Thursday to express his views on Bitcoin (CRYPTO: BTC) in the context of the current market conditions. He stated that while Bitcoin emerged from the 2008 financial crisis, the ongoing financial turmoil of 2025 could mark its end. Schiff’s statement comes amid heightened financial instability and economic challenges.
What Happened: Schiff’s post on X highlighted his skepticism towards Bitcoin, which he has often criticized in the past. He has previously referred to Bitcoin as a “digital risk,” especially during times of economic uncertainty.
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His remarks also coincide with recent discussions on tariff policies and their impact on the economy. Schiff has been vocal about his criticism of Donald Trump‘s tariff strategies, likening them to historical economic blunders.
Why It Matters: Schiff’s views mirror a broader skepticism among some economists regarding the stability of cryptocurrencies. In a recent analysis, Schiff labeled Bitcoin as a “digital risk” amid tariff concerns, questioning its status as “digital gold.”
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Schiff’s critique also ties into his broader economic commentary, where he has compared Trump’s tariff policies to the infamous Hindenburg disaster, suggesting they expose vulnerabilities in the U.S. economy.
Furthermore, Schiff has warned against taking investment advice from the Trump family, especially after Eric Trump’s endorsement of the second-largest cryptocurrency, Ethereum (CRYPTO: ETH), which saw a significant price drop.
Despite Schiff’s dire prediction, history tells a different story. According to Bitcoindeaths.com, had an investor put just $100 into Bitcoin each time it was declared “dead” — which has happened 429 times to date — they would now be sitting on more than $83 million. The cryptocurrency has repeatedly defied its critics’ obituaries.
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