Peter Schiff Doubles Down: ’Dollar Doomsday Looms’—But Is Bitcoin’s Scarcity Myth Just Hedge Fund Fodder?
Gold bug turned dollar doomsayer Peter Schiff is at it again—this time with a two-pronged attack. First, he's ringing alarm bells about the greenback's impending collapse (because clearly, the guy who missed Bitcoin's 20,000% rise is who we should trust on currency forecasts). Second, he's taking shots at Bitcoin's scarcity model—apparently forgetting that unlike the Fed, Satoshi can't print more BTC when the mood strikes.
Schiff's latest rant lands as institutional investors pile into Bitcoin ETFs like it's 1999. The irony? These same Wall Street players he courts would sell him bottled air if it had a ticker symbol.
Meanwhile, Bitcoin's hash rate hits new highs while the dollar's purchasing power keeps doing its best Wile E. Coyote impression—straight off a cliff. Schiff might want to check his math: 21 million fixed supply beats 'infinite QE' any day.
Schiff: Bitcoin supply cap is psychological, not structural
In a separate tweet, Schiff challenged the significance of Bitcoin’s 21 million supply cap. Hea thought experiment: what if there were 21 billion BTC instead, each divisible into 100,000 satoshis instead of 100 million?
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Schiff argued that the number of bitcoins is arbitrary—the real scarcity lies in the total satoshi supply, which remains fixed regardless of how BTC units are defined. “Bitcoin’s supply is actually meaningless,” he wrote. “It’s the satoshi supply that counts.”
His comment reignited a long-standing debate in crypto circles: does psychological framing matter more than technical scarcity?
