Peter Schiff Warns Bitcoin Could Crash 70% to $20,000, Criticizes MicroStrategy's Capital Strategy

According to Peter Schiff, Bitcoin could fall toward $20,000 in a 70% decline from current levels, with the economist criticizing MicroStrategy's decision to raise capital through share issuance rather than selling part of its 847,000 BTC holdings. Schiff argued that the company's $450 million capital raise through common stock represents dilution of existing shareholders, particularly given that MicroStrategy's market value trades at a significant discount to its Bitcoin reserves.

Schiff identified resistance at $65,000 and support around $58,000, warning that a break below support could push Bitcoin under $50,000 and eventually toward the $30,000–$20,000 range. He contended that MicroStrategy faces a bind: selling Bitcoin could trigger market pressure, yet the market already understands the company's significant BTC exposure and its limited strategic options.