Peter Schiff Warns Crypto ‘Starting to Crack’ Amid Market Decline Triggered by Trump Tariffs

Peter Schiff, a long-time skeptic of cryptocurrencies, has renewed his attacks on the crypto market, following President Trump's introduction of new tariffs. He claimed that cryptocurrencies are “starting to crack” due to the new tariffs, asserting this development supports his long-standing criticism.

Schiff argues that economic measures such as tariffs have a harmful effect on financial markets, including the cryptocurrency sector. 

Additionally, he criticized Trump’s initiatives, such as the creation of a strategic Bitcoin reserve, saying that such steps introduce unnecessary risks to the economy and investors. In Schiff’s view, the president’s actions could increase volatility in the crypto market and result in significant losses for retail investors. 

Moreover, Schiff believes that Trump's support for cryptocurrency encourages unrealistic optimism about digital assets and could result in additional losses for investors.

Who Is Peter Schiff and Why Does He Criticize Bitcoin?

Peter Schiff is one of the most prominent critics of Bitcoin. Consistently negative about cryptocurrencies, he often describes them as a “bubble” and argues that they lack any real value. Schiff frequently speaks out against crypto assets, claiming they are less reliable than traditional assets like gold.

Related: Peter Schiff’s Bold Pivot: Ordinals Reign Supreme Over Gold

He has also criticized efforts to introduce cryptocurrency infrastructure into traditional financial systems, believing that such steps only worsen existing economic problems.