Bitcoin’s Record High Reflects US Dollar Weakness

Bitcoin's record-breaking surge, according to expert Peter Schiff, is not a sign of crypto market strength—but a warning bell for the growing weakness of the U.S. dollar.

Bitcoin's Record High Reflects Us Dollar Weakness

Bitcoin has continued to set new all-time highs, outpacing even the surging U.S. stock market indices. However, according to Peter Schiff – CEO of Euro Pacific Capital – the driving force behind Bitcoin’s rally isn’t its inherent strength, but rather the growing weakness of the U.S. dollar.

Bitcoin Breaks Records as Trading Volumes Soar

Bitcoin Price Chart
Bitcoin Price Chart

Fueled by strong buying demand from Wall Street and retail investors online, Bitcoin hit a new record high of $123,000 earlier this week. After the dramatic surge, its average trading price stabilized around the $117,000 mark, while daily trading volumes flooded major exchanges.

This rapid price appreciation has brought massive profits to a wide range of investors – from retirement savers and casual altcoin traders to large institutional players like Michael Saylor’s Strategy Inc. In July alone, Bitcoin’s realized market capitalization surpassed the $1 trillion threshold – a stunning milestone for any digital asset.

Schiff: “It’s Not Bitcoin’s Strength, It’s the Dollar’s Weakness”

Peter Schiff On X
Peter Schiff On X

While much of the market celebrated the surge, Peter Schiff remained unimpressed. A well-known crypto skeptic, Schiff argued that Bitcoin’s rally is merely a reflection of the U.S. dollar’s decline, rather than proof of Bitcoin’s resilience.

Even as Congress advanced the GENIUS Act – a bill aimed at regulating stablecoins and seen as a step forward for the crypto industry – Schiff dismissed it as a publicity stunt orchestrated by special interests to hype up Bitcoin and dump worthless tokens onto the public for early investors’ gain.

In Schiff’s view, the fact that Bitcoin is only breaking records when priced in U.S. dollars – but not in euros or Swiss francs – clearly indicates that it’s the dollar that’s weakening compared to other major currencies. He also warned of an overheated crypto bubble in the U.S. that could eventually burst.

While many Bitcoin investors appreciate its tendency to rise when the dollar weakens or when the Federal Reserve signals lower interest rates, Schiff continues to view the entire ecosystem as a “Ponzi scheme” built on fragile expectations.

Love

0.0/5

Love

Latest

Binance.us Accused Of Political Favoritism After Listing Trump Family’s Usd1 Token

News | Editor Choice | Policy & Regulations

Binance.US Accused of Political Favoritism After Listing Trump Family’s USD1 Token

Binance.US is facing a wave of fierce criticism after listing the Trump family’s USD1 stablecoin, just a week after Donald Trump’s controversial pardon of Changpeng Zhao — a move many see as a “political favor” between the White House and the crypto world.

Spacex Moves $31 Million In Bitcoin, What Is Elon Musk Planning

News | Bitcoin | Editor Choice

SpaceX Moves $31 Million in Bitcoin, What Is Elon Musk Planning?

SpaceX’s sudden $31 million Bitcoin transfer within just one week has sent shockwaves through the market, sparking speculation that Elon Musk may be preparing for a mysterious strategic move.

21shares Files For Hype Etf, While Bitwise’s Solana Etf Records

News | Altcoin | Editor Choice

21Shares Files for HYPE ETF, While Bitwise’s Solana ETF Records

The crypto ETF market is heating up as 21Shares and Bitwise roll out new products, signaling Wall Street’s growing interest in altcoins.

Bitcoin Eyes A Hopeful November Amid Fed Division On December Rate Cut

News | Bitcoin | Editor Choice

Bitcoin Eyes a Hopeful November Amid Fed Division on December Rate Cut

Following the Federal Reserve’s widely expected rate cut, the crypto market has yet to show signs of recovery as internal divisions over a potential December easing weigh on sentiment, making Bitcoin’s short-term outlook more cautious than ever.

Ethereum’s Key Changes After The Fusaka Upgrade

News | Altcoin | Editor Choice

Ethereum’s Key Changes After the Fusaka Upgrade

The Fusaka upgrade marks a pivotal step in Ethereum’s journey toward large-scale scalability, promising faster transaction speeds, enhanced security, and laying the foundation for the next explosive phase of the world’s leading blockchain.

Screenshot 2025 10 20 091338