Peter Schiff warns BTC drop under $50K could sink to $16.5K, threaten Strategy

Euro Pacific Capital CEO Peter Schiff, a longtime Bitcoin critic, said BTC could fall below its 2022 low of $16.5K if it drops under $50K, as the downtrend may accelerate. Schiff said Bitcoin’s decline is gaining momentum, and a break below $50K would make it unsurprising if BTC retests its 2022 low before year-end. He added that such a scenario would also deal a severe blow to Strategy (MSTR), which holds a large amount of BTC.