Peter Schiff, the eternal Bitcoin [BTC] critic, never misses a chance to make a joke about Bitcoin. In a new attack, he took another stab at the world’s largest cryptocurrency.
While poking Bitcoin investors, the executive recently noted that iIf Bitcoin ends at $10,000 in 2026, “it will still be the best-performing asset in ten years.”
In his post, Schiff also criticized Michael Saylor’s strategy and said,
I’m sure @Saylor will rely on that to keep pumping Bitcoin and issuing more shares of $MSTR to buy it. But a 92% drop will make it the worst performing investment for most HODLers.
Schiff’s unwavering belief in traditional asset classes
Despite Bitcoin standing strong against Schiff’s favorite gold and silver in times of uncertainty, he has has still rejected the idea that Bitcoin has any value over traditional assets.
Schiff has on several occasions urged investors to buy ‘silver’ and gold, despite a rise in investor sentiment towards Bitcoin.
Strategy’s records billions in losses in the first quarter of 2026
Schiff’s latest comments followed Strategy recording unrealized losses of $14.5 billion, as reported by the Wall Street Journal (WSJ).
The company faced this huge loss in the first quarter of 2026 when the value of Bitcoin, which once traded above $87,000 on January 1, fell to around $66,000 on March 31.
In addition to this observation, WSJ noted:
Bitcoin fell 23% in the first quarter, its worst start to the year since the first three months of 2018, when the digital currency plunged more than 50%.
Strategy shares also suffered a loss of about 16% in the first quarter of 2026. Also at the time of writing, MSTR was trading at $123.72, having fallen 3.11% in the past 24 hours.
Strategy’s Bitcoin buying spree and more
And yet, despite everything, the first quarter of 2026 for Strategy did not pass without Bitcoin purchases. In fact, Strategy made 12 purchases in 3 months, for a total of 89,602 BTC.
In fact, the total Bitcoin supply at the time of writing was 766,970 BTC worth $55 billion.
Meanwhile, the Bitcoin SOPR ratio hovered just below level 1 – a sign that the market may be in the breakeven zone.
Simply put, in such cases, sellers no longer realize strong profits and the market can naturally prepare for the next direction.
Finally, the Bitcoin MVRV ratio further confirmed this sentiment as the ratio was negative – evidence of a potential accumulation phase. Until the ratio rises above 0, Bitcoin will walk a tightrope.
Final summary
- Peter Schiff took another jab at Bitcoin and Michael Saylor, calling for a 92% drop by the end of the year.
- Bitcoin’s price recovery, along with on-chain metrics pointing to selling exhaustion, suggested a trend reversal could be looming.