Peter Schiff is back on the Bitcoin beat. On the July 15 episode of The Peter Schiff Show, the longtime gold advocate warned that holders will regret not selling at current levels. He admitted regretting not buying Bitcoin 15 years ago — but not in the last three to five years. At the time of writing, Bitcoin was trading just under $65,000, up nearly 4% after lower-than-expected US CPI data.
Schiff's price targets
Schiff laid out a technical case: resistance around $65,000, support near $58,000. If that support fails, he argued, Bitcoin could fall below $50,000, eventually to $30,000 or even $20,000. He didn't offer a timeline, but the message was clear — get out now or get burned later.
Strategy's stock sale draws fire
Meanwhile, Strategy — the company formerly known as MicroStrategy — raised $450 million through a common stock sale. It didn't sell any Bitcoin; instead, it boosted cash reserves to $3 billion. Schiff called the move needless dilution. He claimed CEO Michael Saylor avoids selling Bitcoin because it would crash the price, but that the market will crash anyway.
A QCP Capital report noted that when Strategy sold 32 BTC in late May, it changed how investors view such companies. The focus now is on cash reserves and funding conditions, not just Bitcoin holdings.
Market reaction so far
Bitcoin's 4% pop after the CPI print suggests traders are still bullish on rate-cut hopes. But Schiff's $58,000 support level is the line in the sand. If it breaks, his bear case gets a lot more attention.
For now, the market is watching whether that $58,000 level holds — or whether Schiff's latest warning becomes a self-fulfilling prophecy.
