Peter Schiff Turns Into Crypto Grinch as Bitcoin Zooms Past $100K🔥

Peter Schiff, everyone’s favorite economic contrarian and the gold bug who can spot a cloud inside every Bitcoin-shaped silver lining, has come out swinging (with a paper towel roll, not a hammer) against Bitcoin’s latest meteoric—well, according to him, not-so-meteoric—rise. 🚀 Or as Pete would say, “it’s more of a slightly energetic leap.”

The crypto crowd is, predictably, turbo-gloating, also known as “confronting Schiff on Twitter,” asking why he’s suddenly pulled a reverse Houdini and disappeared during Bitcoin’s climb. Maybe he’s just busy furrowing his brow at gold charts, tragically humming ‘Yesterday’ by The Beatles?

So, let’s recap for the people in the cheap seats: Earlier this week, Bitcoin had the audacity to reclaim the $105,000 perch (no, that’s not a typo—somewhere, a Dogecoin is whimpering in jealousy), only to slip a bit after a classic crypto correction. For those playing Safe Haven Asset Bingo: gold also tripped over its own shoelaces.

By Tuesday, Bitcoin’s legendary fan club (Bulls. They mean business. And memes.) had wrangled it back up to a heart-stopping intraday high of $104,836. You know, just your average Tuesday flex. At this rate, it’s about 3.8% away from setting a shiny new record. HODL your hats! 🎩

“The consequences of de-dollarization” 🤔

Meanwhile, back at the macroeconomic ranch, Bitcoin’s rebound is now cozying up with yet another alarming indicator: the yield on the 10-year U.S. Treasury note is eyeing 4.5% like it’s the last cocktail sausage at a party.

Schiff, never one to miss a spotlight, points out that this—brace yourself—might mean the world finally suspects the U.S. dollar can’t actually bench press the national debt. His melodramatic warning: “Despite the trade truce, the world is losing confidence in the dollar and our ability to get our fiscal house in order. The consequences of de-dollarization will be profound.” Translation: “Buy gold, please. I’m begging you.” 🏆

2025-05-14 00:06

“The consequences of de-dollarization” 🤔

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