Peter Schiff Warns: Bitcoin ETFs Face Major Outflows + Altcoin Risks Ahead

"I think that the situation today potentially looks a lot more dire than it has in the past. So, I think there's a lot more downside now than there was uh during previous cycles."

"we're falling from 126,000 peak. Uh so that market cap was a record high. So even if we have a similar percentage decline that we've had in the past, the dollar value of what's lost is significantly higher."

"I think that all that Bitcoin is going to get liquidated and and so the people who didn't want to sell their Bitcoin at 100,000, 110,000, 120,000 are going to be forced to sell it at much lower prices. you know, maybe 50,000 or 40,000 or who the hell knows where where it's going to go in this initial, you know, could go lower than that. So, there's much more leverage now, I think, than we've had in previous declines that will accelerate."

"I think that as Bitcoin really starts to break down, a lot of those, you know, Johnny come late, uh, who jumped on a bandwagon, when they're down 20, 30, 40%. You know, I think these guys are going to cut their losses. They're going to say, "You know what? It didn't work out. Let me take my chips off the table. You know, I'll go to another casino. I'm, you know, maybe I'll I'll buy something else. Maybe they'll go back to gold, their gold stocks. I don't know." But I think that selling is going to overwhelm the market because there could be so much of it so fast there's no way to absorb it because all that buying, those inflows happened over a couple of years. The outflows can happen over a couple of weeks."

"I think all these Bitcoin treasury companies are going to go out of business including Strategy. I mean Strategy might go out of business last but a lot of the copycat companies are going to go out of business."

"Micro Strategy is going to stop buying. And when they can no longer buy Bitcoin because they can no longer sell stock at a premium because they're going to be trading at a discount to their NAV, the whole investment case for a micro strategy falls apart because they can no longer generate, you know, a Bitcoin yield, which was a deceptive term anyway because it's not really a yield, but they won't be able to do it when it's at a a discount."

"I'd like to debate strategy. I think it's it's a scam. I don't think it's a viable business. I think it's going to go bankrupt."

"they've issued a lot of these convertible debt where they've promised to pay dividends, but they don't really have to. If you look at the language on the convertibles, strategy has to declare a dividend. And if they don't declare it, you get nothing. And I think they're going to stop the they're not going to declare any dividends. They're not going to have any way to pay it. They're not going to want to dilute the stock that massively. And so they're just going to stop all payments on all the preferreds, which is going to destroy the demand for those things."

"strategy does have a lot of convertibles that are going to mature and they're going to have to pay billions and billions of dollars of cash starting I don't know what if it's 2028 or when the first ones start rolling over but 2028 2029 2030 they're going to have to come up with billions of dollars. Well, where are they going to get that money? They they don't have any money. All they have is Bitcoin and that Bitcoin is going to keep losing value. So they're they're going to have to sell the Bitcoin eventually to repay the debt."

"I think the demand for gold over the next several years is going to really accelerate and what it really is is a rotation out of US dollars and out of US treasuries."

"I think gold is going to continue to rise. I don't think you're going to have that big a correction."

"I think the process of removing or the dollar losing that status is already underway. So the question is how long will it take for the process to complete or for people to recognize that it's it's happening? And I think once there's a recognition that's going to speed up the process, right? Because then, you know, people will rush to get rid of the dollar once they understand what what's going on."

"America, of course, is the biggest loser because we have relied on the dollar's reserve status as a crutch. It's the reason that we can live beyond our means. It's the reason that we can consume without having to do all the hard work of producing. It's the reason that we could just borrow without having to save. It's the reason that we have this consumer-based economy. It's only made possible by the productionbased economies of the rest of the world that finance the whole thing. So the rest of the world's going to see an increase in their standards. We're going to see a big drop."