Bitcoin to ZERO?! 😱 Peter Schiff Speaks!

So, you know how everyone’s been going slightly mad over Bitcoin? 🙄 Well, Peter Schiff – the man who thinks gold is basically the answer to everything, ever – has emerged from his bunker to declare, with what I’m assuming is a very serious face, that it’s all going to end. Like, really end. Eventually, apparently. Which is, you know, reassuringly vague.

He was having a chat with this cryptocurrency influencer – a “@notthreadguy” which sounds like a rejected Twitter handle – and apparently confessed he wasn’t wrong about the impending doom. He just… underestimated how easily people would fall for it all. Honestly! The gullibility! It’s almost impressive. He actually said he underestimated our gullibility. Seriously?

Apparently, the early Bitcoin adopters were rather clever. Schiff grudgingly admitted they did a “great job” of persuading everyone to buy what they wanted to offload. Which, frankly, sounds a bit like a sophisticated form of pyramid scheme, doesn’t it? 🧐 Just saying.

He’s firmly of the opinion it’s a “gigantic pump-and-dump.” A gigantic one. As if it wasn’t obvious. And apparently, some “O.G. whales” (whoever they are, probably sipping cocktails on yachts) are secretly selling, which is why Bitcoin is struggling to stay above $110,000. A tragedy. A true, devastating tragedy. 😭

And just to rub it in, gold is doing brilliantly, having a lovely time hitting record highs. Because, obviously, gold is always right. It’s practically a law of nature.

Looming economic crisis?

But wait, it gets better! (Or worse, depending on your perspective). Schiff fully expects a US economic crisis so catastrophic that 2008 will look like a charming little Sunday picnic. A Sunday picnic! Can you even imagine? 😏

Apparently, this time it won’t be subprime mortgages causing the problem, it’ll be US Treasuries. Which is… complicated. I’m not entirely sure what a US Treasury is, but it sounds ominous.

He’s convinced we’ll all lose faith in the US government’s ability to, you know, pay its bills. Which, let’s be honest, isn’t entirely comforting. He envisions a “run on treasuries” and the world collectively deciding it doesn’t want US dollars anymore. The horror! 💸

So, there you have it. Prepare for the end. Or don’t. Frankly, I’m going to go make a cup of tea. ☕

2025-10-23 09:34

Looming economic crisis?

Read More