Renowned economist and market commentator Peter Schiff warned in an interview aired Thursday of an impending dollar crisis that could crush Bitcoin’s (CRYPTO: BTC) value, while promoting precious metals such as gold and silver as reliable investments.
A Looming Crisis Like The 2008 Meltdown?
Speaking on the Randi Hipper Show, Schiff said that the economy is “getting closer” to a dollar crisis and described gold and silver’s surge as a “harbinger” of the brewing storm.
“I think what’s happening in gold and silver now reminds me of what happened to subprime in 2007,” Schiff said, referring to the housing market bubble that led to a surge in subprime loans, leading to the 2008 financial crisis.
Bitcoin Will Struggle, Commodities Will Skyrocket, Says Schiff
Schiff said the crisis would affect the stock market, real estate bonds and cryptocurrencies like Bitcoin (CRYPTO: BTC).
“People need to realize that what I am forecasting is a negative for Bitcoin. It is not a positive for Bitcoin,” Schiff said, dismissing the “Digital Gold” narrative that several Bitcoiners push.
“And you think out of everything that’s going to survive, gold and silver are going to just skyrocket,” he added.
Lessons From 2025
Schiff’s prediction comes in the wake of soaring U.S. national debt, exceeding $38 trillion as of this writing, with the interest on debt alone now surpassing the country’s annual defense spending.
Additionally, dollar-denominated assets have been hit, with the U.S. Dollar Index (DXY) falling over 10% in 2025, marking its worst year in almost a decade
It’s worth noting that while Bitcoin fell alongside the dollar, gold surged over 60% in 2025.
| Entity | 2025 Gains +/- | Value (Recorded at 9:45 a.m. ET) |
|---|---|---|
| Bitcoin | -7.31% | $95,503.01 |
| Spot Gold |
+63.65% | $4,599.93 |
| U.S. Dollar Index | -10.23% | 99.299 |
Photo Courtesy: bitz100 on Shutterstock.com
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