Peter Schiff Says Bitcoin May Fall To $10,000 And That Support May Fail Soon

TLDR

Table of Contents

Peter Schiff wrote that Bitcoin could have initial support near $10,000, yet he doubts it holds.
Schiff said the move to about $60,000 is “hardly a crash” and he expects lower prices.
Schiff challenged claims that MicroStrategy could manage $8,000 Bitcoin, citing refinancing risk.
Schiff noted Bitcoin fell below the value of 13 ounces of gold and criticized CNBC’s framing.

Bitcoin’s latest slide has revived warnings from one of its most vocal critics. Peter Schiff said the market may be heading toward much lower levels. The gold advocate and economist wrote on X that Bitcoin could fall to $10,000, and he does not expect that level to hold.

Schiff points to $10,000 as possible support

Schiff said he was looking at a long-term Bitcoin chart when he shared his view. “It looks like it will have some initial support around $10K,” he wrote.

He then added that he doubts buyers will defend that area for long. Schiff wrote that he does not expect $10,000 to hold if the decline continues.

He calls the drop toward $60,000 “hardly a crash”

Schiff commented after Bitcoin fell to around $60,000 during the recent sell-off. He dismissed the move as limited when measured against prior peaks.

“That’s hardly a crash,” Schiff wrote, while arguing that prices could move much lower. He also suggested that some coverage treats the decline as less serious.

His posts framed the current drawdown as part of a larger downtrend. He wrote that the market could lose another large share of value.

MicroStrategy and the $8,000 scenario enter the debate

Schiff also responded to comments from MicroStrategy Executive Chairman Michael Saylor. Saylor had said the company could withstand a drop to $8,000 per Bitcoin over four years.

Schiff challenged that idea and linked it to corporate financing. “He won’t be able to buy as if Bitcoin is at $8K in four years,” Schiff wrote.

He added, “There is no way MSTR can refinance.” Schiff argued that such conditions would threaten the company’s ability to operate.

He also questioned the timeline implied in the $8,000 claim. Schiff wrote that he doubts “it will take a whole four years for Bitcoin to get down to $8K.”

Gold comparison and criticism of CNBC coverage

Schiff also returned to a frequent comparison between Bitcoin and gold. He wrote that Bitcoin had fallen back below the value of 13 ounces of gold.

“People who sold gold to buy Bitcoin made a huge mistake,” Schiff wrote. He added that waiting longer to reverse that trade can raise the cost.

He also criticized financial television coverage, naming CNBC in particular. “The biased and clueless mainstream financial media covers Bitcoin’s ‘unexpected’ 50% decline as if it’s just another great buying opportunity,” Schiff wrote.

Schiff urged selling rather than buying during the downturn. He wrote that “the real opportunity is to sell Bitcoin before it loses the other half of its market value.”

He also suggested legal exposure tied to bullish framing on air. Schiff wrote that CNBC’s “lack of disclaimers may mean viewers have a free put” if they buy and lose money.