Bitcoin BTC/USD critic Peter Schiff has resurfaced with a fresh round of criticism

Bitcoin BTC/USD critic Peter Schiff has resurfaced with a fresh round of criticism, targeting both Ethereum ETH/USD and Donald Trump's economic policies

Peter Schiff, a renowned Bitcoin BTC/USD critic, has resurfaced with a fresh round of criticism, targeting both Ethereum ETH/USD and Donald Trump's economic policies as markets reel from a steep sell-off.

What Happened: In an X post on Monday, Schiff highlighted that Ethereum had slipped below the $1,500 mark for the first time in over two years, briefly touching the $1,400 range.

However, he warned that ETH is heading towards a retest of the sub-$1,000 zone, an occurrence last seen in June 2022 when the asset struggled to maintain that level.

In response, a crypto trader pushed back, dismissing Schiff's gloom as outdated.

The trader noted that volatility is expected in the crypto market, and that Ethereum’s ecosystem is expanding in terms of tech and adoption—despite the price dips.

Schiff doubled down, arguing that over the past 3.5 years, Bitcoin has lost more than 30% of its value when measured in gold. He claimed that anyone ignoring this long-term trend will face serious financial losses.

Also Read: Bitcoin, Ethereum, XRP, Dogecoin Liquidated By $1.42 Billion As Tariffs Drive Crypto Down 16%

Why It Matters: As crypto and traditional markets sold off following Trump's tariff announcement, Schiff didn't mince words, calling the policy "dumber than establishing a strategic Bitcoin reserve."

His jab generated reactions across Crypto Twitter, with some agreeing and others poking fun at Schiff's consistent bearishness.

When asked whether Bitcoin was a bad idea for governments or simply a bad asset, Schiff replied: "Both. But tariffs are worse. Doing nothing would be less harmful than what Trump is doing."

One trader retorted that "the strategic reserve was actually one of the smarter policy moves" and pointed out that Schiff has been consistently wrong about Bitcoin since 2011.