Peter Schiff suggested the extent of Bitcoin’s price decline., 2026/02/20 17:59:22

President of Euro Pacific Capital, economist Peter Schiff, has advised investors to quickly divest their Bitcoin holdings, as he anticipates a significant decline for the leading cryptocurrency.

Schiff tweeted that if Bitcoin were to drop to the $50,000 mark, it would likely trigger a sell-off of the crypto asset. Under such intensified selling pressure, he suggested that Bitcoin could plummet by 84% from its historical peak of $126,000 reached in October.

“If Bitcoin breaks through $50,000, which seems quite plausible, it will test $20,000 and potentially even lower levels. Bitcoin has done this before, but the current environment features unprecedented hype, leverage, institutional capital investments, and market capitalization. Sell your Bitcoins now!” declared the crypto skeptic.

When followers inquired in the comments about the technical basis for his prediction, the economist noted that Bitcoin is characterized by volatility—sharp increases followed by equally sharp declines. In his view, this demonstrates the instability of the leading cryptocurrency, its lack of intrinsic value, and its long-term viability.

As a proponent of gold investments, the president of Euro Pacific Capital does not endorse investments in digital assets. The website Bitcoin Deaths, which archives public statements regarding Bitcoin’s collapse since 2010, identifies Schiff as the most frequent critic of the cryptocurrency. The platform has recorded at least 22 instances where the economist predicted Bitcoin’s downfall.

Recently, Schiff recounted an incident at a restaurant in El Salvador where he was unable to pay with Bitcoin after dining with Morgan Creek Digital co-founder Anthony Pompliano.