Bitcoin’s most persistent critic is back. On July 15, economist Peter Schiff forecast that BTC could plunge to $20,000 — a near-70% wipeout from current levels around $65,000 — and warned that holders clinging to their coins today will soon wish they’d exited.
Schiff aimed much of his latest podcast at Michael Saylor’s Strategy (formerly MicroStrategy), the largest corporate Bitcoin holder with over 847,000 BTC. The firm has skipped Bitcoin purchases for three straight weeks and instead raised $450 million through a common stock sale — priced at a steep discount to its Bitcoin stash — lifting cash reserves to $3 billion. Schiff branded the move needless shareholder dilution, arguing Saylor is trapped: he can’t sell meaningful amounts of BTC without crashing the price, so he sells discounted stock instead — but the market sees the bind, and in Schiff’s view, the crash comes either way.
On the charts, Schiff pegged resistance near $65,000 and support at $58,000, warning a breakdown could drag Bitcoin under $50,000, with his ultimate floor sitting between $30,000 and $20,000. He even conceded he should have bought Bitcoin 15 years ago — though he has zero regrets about sitting out the last five.
The awkward footnote: Bitcoin was trading just under $65,000 at the time of his remarks, up roughly 5% on the week — while analysts continue to reassess the broader corporate Bitcoin accumulation model, with Strategy squarely at the center of that debate.
