Peter Schiff, a vocal critic of Bitcoin, recently shared his belief on social media that Bitcoin's price could plummet back to $20,000. Schiff, known for his affinity for gold, argues that even at $20,000, Bitcoin would still be overvalued. He specifically targeted MicroStrategy, a company heavily invested in Bitcoin, predicting a potential $3.25 billion unrealized loss if Bitcoin were to drop to that level. Schiff has also accused MicroStrategy of manipulating Bitcoin's price.
His comments followed Bitcoin's dip to $60,065 after the lackluster debut of a cryptocurrency ETF in Hong Kong.
