Bitcoin Critic Peter Schiff Predicts USDT Will Eclipse BTC
Bitcoin fell to about $61,500, its lowest level in roughly four months, amid broader crypto selling and more than $1 billion in leveraged liquidations. Peter Schiff used the drop to argue that stablecoins are gaining more importance than major crypto assets. He pointed to Tether’s USDT, whose market cap has risen to nearly $188 billion and is now close to Ethereum’s, with the gap under $26 billion. Schiff said USDT will likely surpass Ethereum first and could eventually overtake Bitcoin as well. He argued that USDT’s one-dollar peg and growing use in trading, payments, remittances, and digital dollar transfers make it a dominant vehicle for moving money without price risk. Schiff also reiterated a bearish Bitcoin view, saying BTC could eventually fall below $20,000 and noting weakness in tech stocks as an added pressure point.
