Peter Schiff Slams Bitcoin Again: “Cheap” Means Nothing Without Earnings or Yield

June 25, 2026

Bitcoin Price News: BTC Faces a Critical Test as ETF Outflows Hit Record Levels

The Bitcoin price is up a little 0.67% to $62,763. The rest of the market is flat. The U.S. Senate passed a War Powers resolution aimed at de-escalating tensions with Iran. That calmed some nerves, and risk assets like crypto caught a bid.

Bitcoin and gold are moving together right now. Over the last week, their price action is 81% correlated. That tells you this is about macro sentiment, not anything specific to crypto.

Even with the rebound, Peter Schiff still isn’t buying it. He’s been calling Bitcoin overvalued for years, and he’s not changing his mind.

What you'll learn 👉

Peter Schiff Questions Bitcoin’s Valuation

Schiff reignited the debate around Bitcoin’s intrinsic value after arguing that claims of Bitcoin being “cheap” make little sense without a framework for valuation.

In a post on X, Schiff asked what Bitcoin is supposedly cheap relative to. Schiff’s argument is simple: Bitcoin has no earnings, no yield, no book value, no productive use. You can’t value it like a stock or a bond. Its price just depends on finding someone willing to pay more later.

Bitcoiners claim Bitcoin is cheap. Cheap relative to what? Maybe relative to its bubble high, but not relative to its historic lows. With no earnings, yield, book value, or productive use, Bitcoin has no valuation anchor. “Cheap” just means buyers hope a greater fool pays more.
— Peter Schiff (@PeterSchiff) June 24, 2026

A Bitcoin supporter fired back: if it’s worthless, why are BlackRock, Vanguard, and Tesla buying it?

Schiff shot that down fast. Tesla bought it years ago and sold most of it. And big firms and hedge funds trade on momentum, he said. They’re not married to Bitcoin, they’re dating it.

TSLA stopped buying a long time ago. I think their most recent trade is a sell. Hedge funds trade momentum. They may have dated Bitcoin, but they didn't marry it.
— Peter Schiff (@PeterSchiff) June 24, 2026

This is the same argument that’s been running for over a decade. One side says no fundamentals. The other says scarcity, security, and the network make it valuable, plus there’s only ever going to be 21 million of them.

Why Schiff’s Criticism Keeps Returning

Schiff has been against Bitcoin for years. When prices drop, his arguments get louder because it looks like he’s right.

But the Bitcoin price keeps bouncing back. After 2017, it fell over 80%. In 2022, it lost more than 75%. Both times, it came back and hit new highs when money flowed back in and sentiment turned.

That doesn’t mean it will happen again. But the pattern is there, bad periods don’t last forever. Schiff still points to valuation. Supporters point to adoption, big money getting in, and Bitcoin‘s history of recovering from deep drops.

Frequently Asked Questions

What Is Happening to the Bitcoin Price Today❓

The BTC price is trading near $61,200 after a modest recovery driven by improving market sentiment and easing geopolitical tensions. Bitcoin has also moved closely with gold in recent days, pointing to macroeconomic factors as the main driver of price action.

Should I Hold or Sell Bitcoin❓

That decision depends on your investment goals, risk tolerance, and time horizon. Many investors choose to hold Bitcoin for the long term, but selling can make sense if you need liquidity, want to secure profits, or rebalance your portfolio.

How Much Will 1 Bitcoin Be Worth in 2030❓

Forecasts for Bitcoin in 2030 vary widely, with estimates ranging from under $100,000 to more than $1 million per coin. The final outcome will depend on adoption rates, institutional demand, regulation, and broader economic conditions.

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