Schiff: Recent BTC plunge was a market warning, not a buying opportunity

Peter Schiff, CEO of Euro Pacific Capital and a noted cryptocurrency skeptic, said via X that Bitcoin's plunge on Oct. 11 was a market warning, not a buying opportunity. He added that he is unsure if U.S. President Donald Trump could rescue the cryptocurrency with a social media post during its next major price drop. Schiff also argued that the recent surge in spot gold proves that Bitcoin is not digital gold, emphasizing that BTC could hit bottom at any time.