Recent Bitcoin Surge Fails to Convince Peter Schiff: "The Upward Move is a Deception, Recent Events Have Nothing to Do with Bitcoin..."

cryptonews.ruPublicado a 2026-08-20Actualizado a 2026-08-20

Resumen

Bitcoin's sharp rise above $72,000 failed to convince prominent gold advocate and Bitcoin critic Peter Schiff, who dismissed the rally as a "false breakout" and a "fake-out." Schiff attributed the price surge to the unexpected announcement from the U.S. Treasury Department regarding bond buybacks, which fueled short-term market optimism by reinforcing expectations of easier financial conditions. While acknowledging that increased liquidity can support gold prices, Schiff argued this effect would not be sustainable for Bitcoin. He maintains that investors in BTC are only "half right" in believing loose monetary policy will boost both assets, reiterating his stance that investors should sell Bitcoin and buy gold instead.

The sharp rise of Bitcoin above $72,000, which once again captured investor attention, has not convinced the well-known $BTC critic and gold proponent Peter Schiff. Schiff argues that the recent surge does not mark the beginning of a sustainable upward trend and urges investors to sell Bitcoin and buy gold.

Economist Schiff, long known for his criticism of Bitcoin, stated in a post on his X account today that Bitcoin's rise above $72,000 was "not a breakout, but a false move."

Schiff attributed the sudden price increase of $BTC to the unexpected announcement from the U.S. Treasury Department regarding bond buybacks. He stated that this move by the Treasury strengthened expectations for easier financial conditions, creating short-term optimism in the cryptocurrency market.

"Bitcoin's climb above $72,000 is not a breakout but a false start. The Treasury's announcement of bond buybacks caught the markets off guard," said Schiff, adding that Bitcoin investors have long believed that easier monetary policy would fuel the rise of both gold and Bitcoin.

Schiff: "Easy Money Benefits Gold, Not Bitcoin"

According to Schiff, this investor expectation is only partially correct. While acknowledging that easing financial conditions and increasing liquidity can support gold prices, Schiff argues that a similar effect will not be permanent for Bitcoin.

Schiff stated in his post: "$BTC investors have long believed that a return to 'easy money' policy will be a catalyst for both gold and Bitcoin. They are only half right. Sell Bitcoin, buy gold."

*This is not investment advice.

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Preguntas relacionadas

QWhat is Peter Schiff's view on Bitcoin's recent surge above $72,000?

APeter Schiff believes the recent surge of Bitcoin above $72,000 is not the start of a sustained upward trend but a 'fake breakout' or 'false move'.

QAccording to Peter Schiff, what caused the sudden price increase in Bitcoin?

ASchiff attributed the sudden price increase in Bitcoin to the U.S. Treasury's unexpected announcement of a bond buyback, which strengthened expectations for easier financial conditions and created short-term optimism in the crypto market.

QWhat does Peter Schiff advise investors to do regarding Bitcoin and gold?

APeter Schiff advises investors to sell Bitcoin and buy gold. He argues that while easier monetary policy may support gold prices, it will not have a lasting positive effect on Bitcoin.

QHow does Peter Schiff characterize the belief among Bitcoin investors about easy money policies?

APeter Schiff states that Bitcoin investors are only 'half right' in their belief that a return to 'easy money' policies will be a catalyst for growth in both gold and Bitcoin. He argues that such policies benefit gold, not Bitcoin.

QWhat disclaimer is provided at the end of the article's content?

AThe disclaimer provided at the end of the article's content is: '*This is not investment advice.'

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