Peter Schiff is not done warning markets. The economist who called the 2008 financial crisis posted on X that the current tech selloff is a preview of something larger, and that Bitcoin will
Peter Schiff is not done warning markets. The economist who called the 2008 financial crisis posted on X that the current tech selloff is a preview of something larger, and that Bitcoin will take a harder hit than most investors are currently pricing in.
"The entire U.S. stock market is overpriced, not just tech. I also expect a much bigger selloff in Bitcoin," Schiff wrote on X as tech stocks were already under pressure.
Schiff's immediate concern wasn't Bitcoin, it was the stock market's failure to fully react to what's happening in tech.
Despite significant carnage in technology names, the Dow Jones was up over 400 points on the day. Schiff read that as a lag, not a signal of resilience.
He predicted that the correction would spread beyond the sector that has already started cracking.
His view is that the broader indices are simply behind the curve, and that when the correction catches up, it will hit across categories rather than staying contained to high-multiple technology names.
For Bitcoin specifically, Schiff's expectation is a selloff that exceeds what the market is currently anticipating.
His reasoning follows a pattern he has maintained consistently, that Bitcoin is a risk asset that trades with market sentiment rather than against it, and that when genuine fear spreads across equities, crypto tends to amplify the move rather than provide shelter.
Schiff made a rare personal admission last week that he regrets not buying Bitcoin when he first learned about it, before immediately predicting that holders would soon regret not selling above $60,000.
He has also drawn a sharp line between gold's current pullback, which he calls a buying opportunity, and Bitcoin's decline, which he has repeatedly described as a bubble deflating.
Bitcoin was trading near $62,852 at the time of his post. Whether the "much bigger selloff" Schiff is predicting materializes will depend on whether his broader market correction thesis plays out in the weeks ahead.
