Renowned stockbroker and financial commentator Peter Schiff warned that early signs of a slump in the tech stocks rally is not good for Bitcoin because the tech rally was its main driver. At the same time, he predicted that gold prices will likely rise as investors increasingly seek safe-haven assets.
‘It looks like the correction in tech stocks has finally begun. That’s bad news for Bitcoin, as the tech rally was its main support. As tech stocks sell off, Bitcoin should crash. Gold will likely head in the opposite direction, as investors rush to buy a true safe-haven asset,’ Schiff wrote in a late Wednesday post on the social media platform X.
It looks like the correction in tech stocks has finally begun. That’s bad news for Bitcoin, as the tech rally was its main support. As tech stocks sell off, Bitcoin should crash. Gold will likely head in the opposite direction, as investors rush to buy a true safe-haven asset.
— Peter Schiff (@PeterSchiff) June 4, 2026
In a separate X post around the same time, Schiff highlighted that the Bitcoin price chart looks bad, but Ethereum and Solana charts look much worse. ‘Everything looks like it’s about to implode. So far, the selling has been very orderly with no signs of panic. That will likely change soon,’ he noted on X.
The S&P 500 index fell 0.74% on Wednesday, while the Nasdaq 100 and the Dow Jones Industrial Average indexes fell 0.29% and 1.21%, respectively. In tandem, Bitcoin prices fell by over 5% in the past 25 hours to hover around $63,540 per token.
While reposting a report on X highlighting how central bank gold-buying rebounded in April from a sharp March selloff, Schiff also asked in a new post today, ‘If BTC prices are lower now than in April 2021, why should future returns be any better?’ He urged investors to consider what could happen in the next five years that’s more bullish for Bitcoin. ‘The party is clearly over,’ he wrote.
If Bitcoin is lower today than it was in April 2021, why should future returns be any better? What could possibly happen over the next five years that is more bullish for Bitcoin than what has already failed to move the needle over the past five years? The party is clearly over!
— Peter Schiff (@PeterSchiff) June 3, 2026
Schiff Mocks Saylor Linking Bitcoin to Real Estate
Strategy’s Michael Saylor is making headlines after selling 32 Bitcoins after pledging earlier that he would never sell his holdings. This sale marks the first one for his company since late 2022.
Saylor had also recently linked Bitcoin to Manhattan property, portraying Strategy’s holdings as a digital version of skyscrapers that appreciate in value while acting as collateral for new debt. He believes that debt-backed assets that appreciate are how modern economies develop now.
Courtesy of FINDING SATOSHI
During Bitcoin 2026 in Las Vegas, Saylor had shared an endgame plan for a $1 trillion BTC balance sheet. His company finances BTC purchases through preferred shares such as STRC and STRF, which convert Bitcoin’s projected growth into a perpetual capital base for further accumulation.
However, Schiff rejected Saylor’s analogy of New York buildings, arguing that ownership alone does not create any yield. Schiff wrote on X that a skyscraper generates monthly rent, but BTC generates only the next sale.
‘No, if you own a NY skyscraper, you can collect a lot of rent. If you own Bitcoin, you collect nothing. That makes all the difference in the world,’ Schiff had noted.
Schiff had earlier described Strategy’s STRC instrument as a centralised Ponzi scheme, and even urged the US Securities and Exchange Commission to open an antifraud probe into the firm’s marketing of that instrument.
More recently, he said STRC investors will lose most of their money as the price of STRC eventually collapses when Saylor is compelled to terminate the dividend.
‘$STRC is down to $94.85, putting the current yield at 12.12%. The lower the price falls, the higher $MSTR will have to increase the dividend to bring the share price back up to $100. That means MSTR will run out of cash much sooner, pulling forward Bitcoin sales to fund payments,’ Schiff had explained in an X post today.
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