Peter Schiff Warns: Bitcoin ETFs Face Major Outflows + Altcoin Risks Ahead
Published: 2025-11-23
Status:
Available
|
Analyzed
Published: 2025-11-23
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 32
Prediction
Topic
Status
Bitcoin treasury companies, including MicroStrategy, are predicted to go out of business and forced to sell their Bitcoin holdings.
"All these Bitcoin treasury companies are going to go out of business, including Strategy. I mean, Strategy might go out of business last. A lot of those companies may have to start selling the Bitcoin that they bought."
Incorrect
Significant liquidation of Bitcoin is expected, with a government bailout being the only potential positive factor.
"And so, I think that all that Bitcoin is going to get liquidated. The only only thing that Bitcoin has going for it potentially is a government bailout."
Incorrect
Crypto donors who supported Trump may pressure him to intervene to support Bitcoin.
"The crypto donors who have backed Trump and put him in the White House, they may say, "Look, you know, Donald, you got to step up here."
Incorrect
Bitcoin's current situation is perceived as optimal, with no further positive developments expected, and it's described as a fraud and useless.
"Things couldn't possibly be better for Bitcoin. Everything you could possibly hope for has already happened. So what could go right? Nothing. It's a fraud to kind of represent it as some kind of digital version of gold. Bitcoin's used for nothing."
Incorrect
Bitcoin is described as not being a viable business and is predicted to go bankrupt.
"I don't think it's a viable business. I think it's going to go bankrupt."
Incorrect
Forced liquidation of Bitcoin is expected at significantly lower prices than recent highs, potentially reaching $40,000 or below.
"So, 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."
Correct
Investors in Bitcoin ETFs are characterized as speculators rather than true believers, and their holdings are not based on Bitcoin's core principles.
"And the ETF investors are not diehard, you know, Bitcoin maxis, you know, I mean, if you really believe in Bitcoin, you don't own an ETF. It defeats the whole purpose of Bitcoin to be, you know, self-custody. Why do you want to put your Bitcoin with a third party, right? Doesn't make any sense. But the people who were doing that just wanted to speculate on Bitcoin. They didn't care about, you know, the supposed advantages of Bitcoin. They just thought it was going up and they figured they'll buy it."
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Money flowed from gold ETFs to Bitcoin ETFs, and these new Bitcoin ETF investors are expected to sell their holdings at a loss if Bitcoin declines significantly.
"And in fact, a lot of the money came out of gold ETFs and came out of gold stocks to to pile into these Bitcoin ETFs. And 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."
Incorrect
The business model of Bitcoin treasury companies is predicted to collapse, leading to them selling their Bitcoin holdings, with MicroStrategy eventually having to sell.
"And then I think all these uh uh Bitcoin treasury companies that have sprung up over the past year that have been buying Bitcoin and borrowing money and issuing stock to buy Bitcoin, that whole business model is going to collapse. So that new demand is going to go away. But a lot of those companies may have to start selling the Bitcoin that they bought. And in fact, Micro Strategy, I don't know where the the pain is where they have to start selling. Eventually, they will."
Incorrect
MicroStrategy will cease buying Bitcoin as its stock trades at a discount to NAV, invalidating its investment thesis of generating a 'Bitcoin yield'.
"And the most significant thing is that 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."
Incorrect
The business model of Bitcoin treasury companies is predicted to collapse, leading to them selling their Bitcoin holdings, with MicroStrategy eventually having to sell.
"And then I think all these uh uh Bitcoin treasury companies that have sprung up over the past year that have been buying Bitcoin and borrowing money and issuing stock to buy Bitcoin, that whole business model is going to collapse. So that new demand is going to go away. But a lot of those companies may have to start selling the Bitcoin that they bought. And in fact, Micro Strategy, I don't know where the the pain is where they have to start selling. Eventually, they will."
Incorrect
MicroStrategy will cease buying Bitcoin as its stock trades at a discount to NAV, invalidating its investment thesis of generating a 'Bitcoin yield'.
"And the most significant thing is that 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."
Incorrect
MicroStrategy's investment in Bitcoin is considered a poor decision, and Michael Saylor is unable to sell their holdings without causing a market collapse.
"Bitcoin was about one of the worst things they could have done with the money. But what makes it even worse is that Sailor can't sell. If Strategy had had spent 57 billion buying gold, he could realize that profit if he wanted, he could sell. But there's no way they could realize any profit on Bitcoin because if they tried to sell, the market would just completely implode and there's no way he could get out even close to what he what what he paid."
Incorrect
A government bailout is the only potential positive factor for Bitcoin.
"The only only thing that Bitcoin has going for it potentially is a government bailout."
Incorrect
Crypto donors may pressure Donald Trump to intervene and support Bitcoin if its price falls significantly.
"And so maybe the wild card is the crypto donors who have backed Trump and put him in the White House, they may say, "Look, you know, Donald, you got to step up here. You know, you've hitched your presidency to a crypto wagon. You know, if Bitcoin goes down to 10,000 five, you know, you know, this is going to reflect bad on you. you got to figure out how to prop up Bitcoin."
Incorrect
The US government might use taxpayer money to buy Bitcoin for the strategic reserve, effectively creating a Bitcoin bailout.
"And so maybe they decide that, okay, let's fill up, let's take advantage of this decline. We're going to buy the dip and we're going to spend, you know, all this taxpayer money buying Bitcoin this to fill up the strategic reserve. In effect, that would be a bailout, a Bitcoin bailout where taxpayers would bail out Bitcoin speculators."
Incorrect
Most Bitcoin treasury companies, including potentially MicroStrategy, are predicted to fail, with copycat firms likely to go out of business first.
"I think that 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."
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Nakamoto, a Bitcoin treasury company, has seen its stock price plummet from over $30 to $0.45, resulting in near total loss for investors.
"And the stock was over $30 a share, right? That's what people were paying. The high was 31.45, 45, but it, you know, it was over $30 a share. People were buying this stock at $30, right? It's at 45 right now. So, I mean, pretty much you've lost everything. Whatever you put in, it's pretty much gone."
Correct
Large investors have been selling Bitcoin into the hype throughout the year, while those who bought at lower prices have also been selling.
"But, you know, meanwhile, the big money has been selling into this hype all year. That's why, you know, that's what's going on, right? People that bought Bitcoin for $100 of Bitcoin, $500 or $1,000, they just been selling."
Incorrect
Bitcoin is described as a fraud, not 'digital gold,' and is considered to have no use.
"It's a fraud to kind of represent it as some kind of digital version of gold. Bitcoin's used for nothing."
Incorrect
Bitcoin has declined by over 40% when valued in gold and is significantly lower than its peak price from four years ago.
"Bitcoin is down better than 40% priced in gold. It's substantially lower than it was when it hit its peak four years ago."
Incorrect
Gold's scarcity is natural and limited, whereas Bitcoin's scarcity is programmed and the number of satoshis is vast, making it not truly scarce in the same way.
"Gold is actually scarce in nature. There is a limited quantity of gold on the planet and probably throughout the universe, right? I you know it's not like you know it's hydrogen or you know helium it's just you know it's a rare element it's very scarce for a metal naturally right God made it scarce right bitcoin is scarce only in the sense that we've programmed it to be scarce but there's 21 million bitcoin and it sounds like there's not that many but there's 2.1 quadrillion satoshi's that's a lot of satoshi's bitcoin itself is an arbitrary construct."
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Bitcoin faces competition from numerous other cryptocurrencies and forks, unlike gold which cannot be forked or replicated.
"And so, Bitcoin competes with all these other tokens, you know, whether it's Ethereum or, you know, Salano or Doge or Fartcoin or Trumpcoin. There's all this crap that people could buy and you could say, "Oh, those are just shitcoins." But still, right, that's a crypto. And there's also, you know, Bitcoin Cash, Bitcoin Gold, you know, Bitcoin BSV, whatever, all these different Bitcoin, you know, forks that have come off of the thing. You can't fork gold. There's no other gold. There's just gold."
Incorrect
Scarcity alone does not guarantee value; demand is also crucial, and Bitcoin's demand is primarily driven by speculation.
"So, it's not real scarcity, but also, scarcity in and of itself doesn't make something valuable, right? I mean, I can make an original Peter Schiff drawing and it could be a one-of-a-kind, but you know, scarce, there's only one of them, but what the hell is it worth? I don't know what I mean, I'm not Picasso. I don't know what people are going to pay for it. You need demand. You need scarcity, and you need to have a lot of demand."
Incorrect
Bitcoin is characterized as a decentralized Ponzi scheme and 'tulips 2.0'.
"So, you know, this is a, you know, a decentralized Ponzi pyramid scheme, greater fool. You know, it's not gold 2.0, it's tulips 2.0."
Incorrect
Gold's value is derived from its utility as a precious metal, requiring specific quantities for applications like jewelry manufacturing.
"The value of gold comes from its use case as a metal, as a precious metal. And so it depends on, you know, how much gold you need. So, if you are a jeweler and you're making bracelets, you need a specific quantity of gold to make those bracelets. You can't just buy little specks of it. You need a certain amount of it."
Pending
Bitcoin lacks utility beyond trading, meaning no specific quantity is needed as it cannot be used for anything else.
"But for Bitcoin, you don't really need any particular quantity because you can't do anything with it, no matter how much of it you have. It just, you know, all you can do is trade it."
Incorrect
Bitcoin is considered to have no substance or real value, making its transfer 'nothing' and thus not justifying high costs.
"So, it's very different. Yeah. You know, when you're transferring nothing, it shouldn't be that expensive. I mean, if I'm transferring gold, I'm transferring something. It's a physical commodity. So, yeah. I got to put it in a box and send it. Got to insure it. It's going to take time to get there. So, yes, Bitcoin has the advantage because it doesn't have any substance. It doesn't have any real value."
Incorrect
Gold's value is tied to its physical utility requiring specific quantities, while Bitcoin lacks this utility and is purely for trading, making even small amounts relevant for speculation.
"But here's the difference. The value of gold comes from its use case as a metal, as a precious metal. And so it depends on, you know, how much gold you need. So, if you are a jeweler and you're making bracelets, you need a specific quantity of gold to make those bracelets. You can't just buy little specks of it. You need a certain amount of it. And it's because you need a certain quantity of gold. If you could just do whatever you wanted with a tiny speck, right, then it wouldn't be as scarce. If I want to actually use gold, I need a certain quantity of it to actually do what I need to do. But for Bitcoin, you don't really need any particular quantity because you can't do anything with it, no matter how much of it you have. It just, you know, all you can do is trade it. So that's the difference between a speck of gold and a speck of Bitcoin. A speck of gold isn't going to help me if I'm a jeweler. I need a lot of gold. But if I'm just gambling on Bitcoin, I can gamble on one sat. If I have one sat, I'm in the game. I'm playing, right? It can go up. I can sell it."
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Owning Bitcoin means owning nothing, as it cannot be exchanged for anything of value.
"If I own Bitcoin, I own nothing. I can't take my Bitcoin to anybody and get anything of value for it."
Incorrect
Gold will never go to zero, as there is no historical precedent for such an event.
"There's no way that gold's going to zero. It's just I mean there's no precedent for that ever happening through all of recorded history."
Correct
MicroStrategy's core business is buying Bitcoin, funded by issuing stock at a premium, which allowed them to increase their Bitcoin holdings per share and create the illusion of a 'Bitcoin yield'.
"Micro Strategy's real business is buying Bitcoin. That's its business. And how does it buy Bitcoin? It issues shares, common shares. It issues them at a premium. At least it has been because this the stock price, they might have had a dollars worth of Bitcoin. Each strategy share was trading at $1.50. So that meant strategy could sell stock at a $1.50 and then take that $1.50, you know, and buy a $150 worth of Bitcoin and now that the Bitcoin that he owned per share would keep increasing. And that was the, you know, the source of his Bitcoin yield. And that was the validation of our business."
Correct
MicroStrategy's business model, relying on its stock trading at a premium to generate a 'Bitcoin yield', will collapse if the stock trades at a discount, making it pointless to own MicroStrategy instead of Bitcoin directly.
"This business model can only continue so long as the stock is trading at a premium. And once it's trading at a discount, then it no longer has the ability to generate this yield. And so it the very foundation of its existence, you know, disappears. If Micro Strategy can't generate a Bitcoin yield, then what's the point of owning it? Just own Bitcoin. Why are you buying strategy?"
Incorrect
MicroStrategy is expected to stop dividend payments on its preferred stock, which will eliminate demand for these instruments.
"But the problem is 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."
Pending
MicroStrategy will face a liquidity crisis in 2028-2030 when billions in convertible debt mature, forcing them to sell depreciating Bitcoin to repay the debt, revealing the 'Ponzi' nature of the company.
"And 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. And so, you know, that's the Ponzi nature of this of this thing."
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MicroStrategy's financial statements are misleading as they include unrealized Bitcoin gains as earnings; excluding these, the company operates at a loss.
"If you look at their financials, exing out the unrealized Bitcoin gains, which they they count as earnings, which is ridiculous because obviously now they've lost a fortune this year. If you're going to play that game, the losses are monumental year to date. If you just take out the unrealized appreciation of their Bitcoin, they're operating at a loss even with whatever income is being generated by the the software business."
Pending
Gold has more than doubled since breaking above $2,000 a couple of years ago, ending a 12-year consolidation period during which Bitcoin flourished due to gold's stagnation.
"Gold broke out above uh 2,000 a couple years ago and it's more than doubled over that time period. It broke out of the consolidation that it was stuck in for a dozen years. And again, it was those 12 years where Bitcoin flourished because gold wouldn't do anything."
Correct
Central bank demand, not investor demand, has driven gold prices up, with retail and institutional investors having sold gold to buy Bitcoin and now regretting it.
"But what drove gold up here is not investor demand. It was central bank demand. In fact, for most of the last two years, retail investors and even institutional investors were selling their gold. They were taking money out of gold and buying Bitcoin. And so, they missed out on this huge gain. But now, you know, looking backwards, they're regretting that decision."
Correct
JP Morgan recommends adjusting the 60/40 portfolio to 60/20/20 by selling half of bond holdings and allocating funds to gold.
"JP Morgan recently said that the 60/40 portfolio should be tweaked. it should be 60 2020 and that you should sell half your bonds and put the money into gold."
Correct
Demand for gold is expected to accelerate as central banks rotate out of US dollars and treasuries due to declining confidence in the dollar, exploding debt, and Fed monetization.
"So 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. That's why foreign central banks are buying gold. They they don't trust the dollar. They don't trust treasuries given the exploding debt and the Fed monetization and all the things that that we're doing destroy confidence."
Correct
The US dollar is predicted to be doomed, with people exiting the dollar and moving into gold.
"So, you know, the dollar is doomed. It's, you know, it's everybody's trying to get out of the dollar and the only way to get out of the dollar is to get into gold and that that's what's going on."
Incorrect
The high price of gold indicates that the market does not believe the Federal Reserve's claims about contained inflation.
"And I think people are, you know, glossing over the risk. You know, when you hear all these Fed chairman say, "Oh, inflation expectations are well anchored and contained and so we've done a good job." $4,000 gold is telling you that nobody believes you because if people believe that inflation was contained, they wouldn't be paying up for gold."
Incorrect
The purchase of gold is a hedge against expected higher inflation, as people believe the Fed's statements are untrustworthy.
"The reason they're buying all this gold is because they know the Fed is full of it. Inflation is going to be a lot higher and so people don't want to lose that purchasing power and so they're getting out and they're they're buying gold and that that's how they can protect themselves."
Correct
China is deliberately concealing its gold purchases to acquire more at lower prices, as revealing their holdings would deter sellers.
"And so they have no incentive to let the world know how much gold they've bought because then they're like, "Oh my god, what are they, you know, we better not sell them anymore. They've got way too much." So I think they're being deliberately, you know, deceptive about what they hold."
Pending
China aims to establish its currency as the world's dominant one by backing it with gold and making it convertible.
"And I think their goal really is to create the world's dominant currency. I think they want to supplant the US dollar as the main uh currency of the world. The best way to do that is to own enough gold where they can now back their currency by gold and make it convertible at some fixed rate with gold."
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The US will be the biggest loser as the dollar loses its reserve status, which has enabled it to live beyond its means by consuming and borrowing without producing or saving sufficiently.
"So the rest of the world wins. 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."
Incorrect
Gold is considered superior money compared to the current US dollar.
"Gold is our money. So, I've understood that and it's much better money than what we got now."
Incorrect
The speaker started advocating for gold ownership in the late 1990s and founded SchiffGold in 2010 to prevent people from being overcharged when buying gold.
"I really started advocating gold ownership that people buy gold. And eventually I I set up my own company, Shift Gold, in around 2010 because a lot of people that I was telling to buy gold were going to buy gold and getting ripped off. They were getting overcharged. And so I said, "Well, I'm not going to let this happen anymore."
Pending
Silver has increased tenfold since the speaker began recommending it, from below $5 to around $50 per ounce.
"When I started recommending silver, it was below $5 an ounce. Now it's around 50. So, you know, you got a 10-fold increase there, too."
Incorrect
The speaker regrets not investing in Bitcoin early on, acknowledging it as a bad decision in hindsight.
"I ended up convincing myself not to do it. So, you know, that was obviously in hindsight a very bad decision that I made."
Incorrect
Many individuals who made substantial profits in Bitcoin invested at prices above $100.
"I mean, most of the people that I know that made hundreds of millions in Bitcoin got in above $100."
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The speaker has not considered buying Bitcoin since it was around $300-$400, viewing it as a pure bubble and something that will eventually go to zero.
"But that was the last time I thought about buying it. I mean, I never thought about buying it after it blew blew up. It was like ah, you know, oh well, I missed that. But I never looked at it again because I always thought it was just, you know, a pure bubble. I would just be betting on other people, you know, stupidity, right? More fools coming in. And, you know, it's hard to buy something when you know it's eventually going to go to zero."
Incorrect
T-gold.com offers tokenized gold, while SchiffGold provides physical gold delivery. Euro Pacific Asset Management manages foreign stock portfolios.
"So, you go to t-g gold.com. If you want the delivery, you know, you just go to shift gold, which you know, it just, you know, we'll mail you your gold, you know, to ship it out to you. You could store it yourself. If you, you know, want my company to manage a portfolio of of foreign stocks, you know, go to uh Europe Pacific Asset Management."
Correct
Gold has increased from under $300 to over $4,000.
"It's gone from under 300 to over 4,000."
Incorrect
Investing in foreign assets and currencies is recommended to benefit from their appreciation as the US dollar declines.
"And that's why, you know, I've invested my clients assets abroad so they can benefit from the appreciation of foreign assets, foreign currencies. And they can, you know, they could ride that wave, right? Foreigners getting richer. Well, you know, if you own foreign assets, then you get richer, too, because your assets will rise in value compared to US dollar denominated assets that are sinking in value."
Correct
The speaker's 'Foreign Dividend Payers Fund' has returned approximately 50% this year, matching gold's performance with dividend-paying stocks.
"In fact, my foreign dividend payers fund is up about 50% this year. It's up about the same as gold, but this is, you know, stocks, dividend paying stocks, so it's doing really well."
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