Peter Schiff Finds the “Final Pin” for the Bitcoin Bubble. Again

Peter Schiff, a gold advocate and longtime Bitcoin critic, said on Thursday that the U.S. midterms had delivered the final blow to the Bitcoin bubble and urged holders to sell now. Democrats won both chambers of Congress on Tuesday; Bitcoin climbed above $80,800 after the vote but slid toward $75,500 by Thursday as tech stocks sold off. Schiff argued Bitcoin has no real value, unlike AI, and said Republicans back Bitcoin while Democrats do not. U.S. spot Bitcoin ETFs still drew $74.6 million in net inflows the day after the vote. Schiff has warned for more than a decade that Bitcoin would collapse; in February he said BTC could fall to $20,000 if support near $50,000 broke.