The 2025 Economy: Schiff Says Bitcoin’s On Its Last Legs, Gold’s Still Winning

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Well, well, well, the year 2025 is shaping up to be a real peach for the economy. And who else but Peter Schiff, the man who never met a bad day he didn’t want to make worse, is stepping up to deliver his favorite brand of doom and gloom. With markets in freefall, he’s back on his favorite platform (X, formerly Twitter), making claims like a man with nothing to lose but his pride.

On April 10, the master of the financial lament took to the digital stage and dropped a line: “Bitcoin was born out of the financial crisis of 2008. Ironically, the financial crisis of 2025 will kill it.” Ah, yes, Peter, ever the optimist. 🤦‍♂️

Bitcoin was born out of the financial crisis of 2008. Ironically, the financial crisis of 2025 will kill it.

— Peter Schiff (@PeterSchiff) April 10, 2025

This comes after the markets took a dive so deep it made the Titanic look like a pool float. On April 7, we witnessed the infamous “Black Monday,” where stocks, crypto, and anything that could be sold, was sold at a loss. Good times.

And Schiff, being the humble gentleman that he is, didn’t stop at just mocking Bitcoin. Oh no, he also took aim at big names like Michael Saylor of MicroStrategy, and even had some fun with Trump’s new U.S. Bitcoin Reserve. After Bitcoin had its little tantrum, Schiff had a field day. Apparently, it had lost over 12% in value since Trump’s reserve launched on March 6, 2025.

A month ago on Mar. 6th, Trump established the Strategic Bitcoin Reserve. So far, the value of the Bitcoin held in that reserve has declined by over 12%. Had the U.S. sold it and added to our gold reserve, not only would we have avoided that loss, but we would now have a 2% gain.

— Peter Schiff (@PeterSchiff) April 7, 2025

Schiff, as always, knows exactly how to make friends. “Had the U.S. sold it and added to our gold reserve,” he continued, “not only would we have avoided that loss, but we would now have a 2% gain.” Oh, Peter, your love affair with gold is almost touching. 😒

And just in case you thought he was done, Schiff pointed out that gold hit a record high, climbing above $3,175 on April 9. Meanwhile, Bitcoin and stocks were playing in the gutter with the S&P 500 and NASDAQ. Talk about a bad day at the office.

But wait—there’s more! Schiff, ever the skeptic, was also unimpressed by Trump’s announcement of a 90-day tariff pause on April 10. This sparked a brief market rebound, which Schiff quickly turned into his usual “See? Told ya so” moment. The dollar dropped like a rock, falling 2.3% against the euro and yen and 3.9% against the Swiss franc. Schiff quipped, “Does this seem like we’re winning the trade war?” 🍿

Oh, but we’re still not done. Schiff had a bone to pick with Ethereum (ETH) too, predicting that it was headed for the same fate as Bitcoin. Ethereum crashed below $1,500 for the first time in over two years, dropping nearly 20% overnight. “I don’t think it will be long before it breaks below $1,000,” Schiff warned, sending chills down crypto enthusiasts’ spines. 😬

And then there’s his ongoing feud with Michael Saylor. As Bitcoin dipped below $80,000, Schiff took the opportunity to remind everyone of Saylor’s high-flying predictions. “Now that Bitcoin is below $80K, if you want to prevent it from crashing below your average cost of $68K, you’d better back up the truck with borrowed money today and go all in,” he snarked. Ouch. 🤭

2025’s been a wild ride—markets crashing, stagflation creeping in, tariffs causing a ruckus. Yet, Schiff’s whole “gold beats Bitcoin” shtick actually seems to have some legs right now. Whether you’re in the crypto camp or the gold camp, you’ve gotta admit—he’s got people talking. It’s like a battle between the old ways and the new world, and no one can tell which side is winning just yet.

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2025-04-11 11:01