Peter Schiff: Bitcoin’s 30% Price Crash Makes US Government’s Reserve “Rationale Hard to See”

• Bitcoin’s price retraced 30% from January’s all-time high.
• Renowned critic questions the rationale behind the US Bitcoin stockpile.
• BTC is 410% up from its January 2023 price.

The crypto market’s latest decline has set off Peter Schiff, one of Bitcoin’s loudest critics, against the US government’s plan to implement a Strategic Bitcoin Reserve. 

Through his post on social media platform X, Schiff questioned the “rationale” behind the US government’s move, given Bitcoin’s tendency to lose value so quickly.

Bitcoin’s Price Drop Fuels Schiff’s Skepticism

Bitcoin’s price fell to $76,600 early Tuesday morning, part of a broader crypto market pullback. This latest Bitcoin dip means the digital currency has lost 30% of its value since hitting an all-time high of $109,356 on January 20. 

Related: Bitcoin’s National Hoards: Top Countries Stockpiling BTC in 2025

By Schiff’s count, it took Bitcoin less than two months to lose that much ground, and he thinks things could get even worse if Bitcoin drops another 50%.

Critics Ignore Bitcoin’s Upside, Past Performance

It’s worth pointing out that Schiff zeroed in on Bitcoin’s recen…

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