Peter Schiff’s Stark Warning: Bitcoin’s Record High Exposes the Rot in the US Dollar

Gold bug turned Bitcoin critic Peter Schiff just fired his loudest shot yet—claiming BTC's latest surge isn't a crypto win, but a dollar dumpster fire.

The dollar's death by a thousand satoshis

As Bitcoin flirts with new all-time highs in 2025, Schiff argues the real story isn't crypto adoption—it's fiat currency's slow-motion collapse. The man who called gold's rise now sees digital gold exposing traditional finance's cracks.

Wall Street's 'sound money' paradox

While bankers still dismiss crypto, their monetary policy keeps printing the very instability that drives investors toward hard assets. Schiff's twist? Bitcoin's rise proves the system's broken—even if he still won't buy the orange coin himself.

Another day, another asset hitting records while the Fed plays whack-a-mole with inflation. Maybe 'stablecoins' should teach their namesake a thing or two.

Bitcoin’s Price Flies To New Highs

Beyond reaching fresh all-time highs, Bitcoin daily trading volume drenched exchanges as the average trade price began to settle down to the $117,000 level.

Investing in BTC has been very profitable for nest egg retirement savers, casual retail altcoin traders, and serious corporate investors, like Michael Saylor’s Strategy Inc. Bitcoin’s market cap in realized gains tapped the $1 trillion mark over the week.

In other words, the total value of all the circulating Bitcoin, cost based over the last time each piece of it moved on chain, was a mouth-watering $1 trillion in July.

Peter Schiff Says Hello Dollar Weakness

But Euro Pacific Capital founder and chief, Peter Schiff, wasn’t impressed by Bitcoin’s feat. He has made a name for himself among crypto investors by trash talking Internet hash currencies.

Even as Congress moved to pass the stablecoin bill named the GENIUS Act, he characterized the MOVE as a cynical ploy by special interests to “hype Bitcoin” and offload worthless tokens onto the public at a profit for early investors.

Meanwhile, as BTC prices traced historic records, the foreign equities expert and Gold bug said that it’s not Bitcoin’s strength, but the dollar’s weakness reflected in the new record prices.

His argument to advance this theory is that bitcoin is only marking records in dollars, “not in euros or Swiss francs.” He contends that only proves the dollar is falling behind its European cousins. He also pointed to what he sees as a bubble of over wrought crypto speculation stateside.

Bitcoin investors like that it moves up in price when the dollar weakens in the international currency float or over Fed inflation to target lower interest rates. But Schiff warns it’s a “Ponzi” scheme built on a house of cards.