Peter Schiff Warns Bitcoin May Fall Below $16,500 After $50,000 Break, Says It Could Be ‘Curtains’ for Strategy

On Saturday, economist and longtime Bitcoin critic Peter Schiff said Bitcoin’s (CRYPTO: BTC) slide is gaining momentum.

In a post on X, Schiff said selling could accelerate if the price breaks $50,000. He added that it could then quickly fall to the 2022 low, below $16,500.

Schiff said he would not be surprised by a retest of that level before year-end. If that happens, he wrote, it is “curtains” for Strategy Inc. (NASDAQ:MSTR).

The Bitcoin collapse is gathering steam. I expect the momentum to pick up once Bitcoin breaks $50K. In fact, once it does, it could be a quick trip to the 2022 low below $16.5K. I wouldn’t be surprised to see a retest of that level before year-end. If so, it’s curtains for $MSTR.

— Peter Schiff (@PeterSchiff) November 14, 2026

Bitcoin Already Trades Below Strategy’s Cost Basis

As of Nov. 1, Strategy’s average purchase cost was $75,451 per Bitcoin. According to Coinbase data, Bitcoin is priced at $67,113.93, down about 2% on the day. That sits $8,337.07, or about 11%, below the company’s cost basis.

Schiff’s targets imply steeper losses. A move to $50,000 would be about 25.5% below current levels. A drop to $16,500 would be about 75.4% lower.

In a separate interview Thursday with Bitcoin Magazine, Schiff said Bitcoin has never posted two straight down years, a pattern he says is about to break. He predicted the price would head “well below 10,000,” a decline of about 85.1% from current levels. Schiff said most Bitcoin now sits with ETFs and treasury companies like Strategy, which he sees as vulnerable to fast selling.

Bullish $100K Calls Face a Test as Bitcoin Slips

Other market voices have been far more optimistic. In late October, investor Mike Alfred said on the All Things Markets podcast that he would bet up to $1 million that Bitcoin reaches $100,000 before $60,000. Host Anthony Scaramucci, founder of SkyBridge Capital, said he agrees.

Alfred said he does not expect Bitcoin to fall below $57,000 to $58,000 again. Of Schiff, Alfred said he “should have just bought it instead.”

Bitcoin has since slid about 17% from the $80,840 it traded at when Alfred spoke. His $60,000 line now sits about 10.6% below current levels, while his $100,000 target is about 49% above them.

Why MSTR Is the Pressure Point

Strategy’s exposure explains why Schiff targets the stock. Its latest purchase added 811 BTC for about $65.5 million, lifting total holdings to 849,327 BTC.

Over the past 52 weeks, Strategy’s stock has traded as high as $213.83 and as low as $81.81.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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