Bitcoin Cynic Peter Schiff Warns BTC Could Drop to $75K, Below Strategy’s Avg. Buy
Economist and persistent Bitcoin critic Peter Schiff has predicted that BTC would slip to about $75,000 at a minimum, lower than Saylor-led Strategy’s average cost.
He advocates BTC holders to “sell now and buy back later.” He said in a thread on X that selling now and buying back lower “beats justing riding it all the way down.”
“Given all the hype and corporate buying, this weakness should be cause for concern,” he wrote.
Bitcoin fell 3.12% in the past 24 hours to $109,828, underperforming the broader crypto market. The largest crypto has been down 13% from its high less than two weeks ago.
BTC Could Fall Below MSTR’s Average Cost
Michael Saylor’s Strategy (formerly MicroStrategy), the largest Bitcoin treasury firm, has been holding the token since 2020. The firm bought 3,081 BTC for $356.9 million at an average cost of $115,829 each on Monday.
Strategy now holds a total of 632,457 BTC, worth $69.58 billion per Bitcoin Treasuries data.
According to Peter Schiff’s prediction, Bitcoin would soon witness a plunge to as low as $75,000, a mark that BTC hit in April 2025.
“At a minimum, a decline to about $75K is in play, just below $MSTR’s average cost.”
Bitcoin is Falling Down – Is $75K Plunge Possible?
Though Bitcoin has been tumbling down, Schiff’s prediction seems remote, given other factors driving up the price, gradually.
The recent flash crash is attributed to a massive whale dump that sparked major liquidations. A whale sold 24,000 BTC in a batch of transactions, proving calamitous for Ether that recently hit an all-time high.
Further, Fed Chair Powell’s Jackson Hole speech emphasized labor market risks, which initially fueled a 4% BTC bounce. However, fading momentum reversed gains.
Meanwhile, institutional accumulation continues with the recent Metaplanet’s 103 BTC purchase. Further, U.S. spot Bitcoin ETFs saw massive inflows ($231M) on August 14.
Bitcoin’s trajectory hinges on whether ETF inflows outpace whale selloffs and if macro liquidity aligns with tech innovation.
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