Challenged on why two or three down years would matter for Bitcoin when gold and the Nasdaq have had similar streaks before recoveries, Peter Schiff says the difference is the backdrop. When a market can’t go up on the best news it has ever had, he argues, that normally indicates that it’s going to go down. He calls Bitcoin “all hype,” with no intrinsic value, income, or dividends, and says much of the supply now sits with ETF investors and Bitcoin treasury companies rather than people who want to use it as money. All of that hot money, he warns, is going to exit, the market will go down faster than it went up, and he expects a massive washout. Even long-term bulls, he says, will have cheaper opportunities after leveraged speculators are cleared out, and he adds that this is not the time to be hodling.
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Chapters:
Jensen Huang Isn’t the Pin That Pricks the AI Trade
Rate Hikes Are Too Little Too Late
Money Supply Is Still Expanding Too Fast
We Need Monetary Rehab
The Fed Can’t Do the Right Thing
Traders Have the Gold Sell-Off Wrong
Gold Is Going Through the Roof
Bitcoin as a Trump Trade
The Best News Bitcoin Ever Had, and the Price Went Down
The Party’s Over for Bitcoin
When a Market Can’t Go Up on Good News
A Massive Washout in Bitcoin
DISCLAIMER: The views and opinions expressed in this show are those of the participants and do not necessarily reflect the official policy or position of BTC Inc., Bitcoin Magazine, or any affiliated entities. This content is provided for informational and educational purposes only and should not be construed as investment, legal, tax, or accounting advice. Nothing contained in this show constitutes a solicitation, recommendation, endorsement, or offer to buy or sell any securities or financial instruments. Viewers should consult their own advisors before making financial or business decisions.