Peter Schiff: Bitcoin's Rally To $100,000 Is 'Repayment' By Trump To Crypto Supporters, But $50,000 May Be On The Cards

Economist and Bitcoin BTC/USD critic Peter Schiff claims that President Donald Trump played a role in the crypto king’s rally past $100,000, suggesting it was a reward to his supporters in crypto.

What Happened: In am X post on Wednesday, Schiff stated that Trump sees his role in boosting Bitcoin's price as a form of “repayment” to his supporters in the crypto space.

The implication is that Trump's policies, rhetoric, or broader economic impact contributed to Bitcoin surpassing $100,000.

The supporters who owned Bitcoin and backed Trump had a chance to capitalize on the price spike by selling at or above $100,000.

Schiff reminded traders how Trump took credit by tweeting "you're welcome" positioning himself as a key factor in Bitcoin's rally.

He also adds that some people did not sell at the peak and lost out on higher profits, it's framed as their fault, not Trump's.

Also Read: Bitcoin Languishes Below $88,000 As Spot ETFs See $1 Billion Outflows On Tuesday

What's Next: In a follow-up post, Schiff predicted that Bitcoin has a high chance of falling back to the $50,000 to $60,000 range, which aligns with MicroStrategy's MSTR average BTC acquisition cost.

It looks like there is a high probability that at a minimum Bitcoin drops back into the $50K – 60K range, just below MSTR's average cost. Why is there so much complacency? pic.twitter.com/edztoFGbTv

— Peter Schiff (@PeterSchiff) February 26, 2025

Schiff also criticized Trump's proposal for a $5 million "Golden Visa", joking that selling 7 million passports would be enough to wipe out the U.S. national debt.

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