Peter Schiff Dismisses Bitcoin Surge, Cites De-Dollarization Concerns

As Bitcoin flirts with its all-time high, financial commentator and gold advocate Peter Schiff remains unimpressed.

Financial commentator Peter Schiff expressed skepticism toward Bitcoin’s recent price surge and instead highlighted the broader macroeconomic concerns, particularly de-dollarization, which he believes is quickly gaining momentum.

As Bitcoin flirts with its all-time high, enthusiasm among crypto traders reached fever pitch. However, a surprising voice of skepticism emerged this week.

Well-known gold advocate and outspoken critic of cryptocurrencies, Peter Schiff, argued that Bitcoin’s recent price move is not as remarkable as enthusiasts suggest.

His remarks follow a brief rally that saw Bitcoin touch an intraday peak of $104,836 before easing back slightly. At current levels, the asset sits just under 4% away from charting a new historic high.

While much of the crypto community celebrated the rally, Schiff was quick to downplay the excitement.

“Bitcoin isn’t skyrocketing,” he stated, directly addressing those who criticized his relative silence during the price upswing.

Schiff's comments were a rebuttal to the notion that Bitcoin's recovery above $105,000 marks the beginning of another parabolic move, a narrative that several analysts have begun to suggest.

Instead, Schiff redirected attention toward macroeconomic pressures, particularly the growing distrust in the U.S. dollar. With the yield on 10-year Treasuries nearing 4.5%, Schiff sees the trend as a signal of weakening global confidence in America's financial trajectory.

"The world is losing faith in the dollar," he stated on X, formerly Twitter. "Even with the trade truce in place, our inability to rein in spending is catching up to us. De-dollarization is accelerating, and the fallout could be enormous."

Bitcoin's gains this week coincided with declines in traditional safe havens like gold, reinforcing the growing divergence between the two assets as investors reassess how they hedge against economic uncertainty.

While Schiff continues to argue that gold is a more stable store of value, Bitcoin's persistent climb and increasing institutional inflows suggest the market may be leaning toward digital assets for long-term protection.