Peter Schiff: Bitcoin’s Rally Above $72K Is a Fakeout — Here’s Why He Says Buy Gold

BitcoinWorld Peter Schiff: Bitcoin’s Rally Above $72K Is a Fakeout — Here’s Why He Says Buy Gold Peter Schiff, the outspoken Bitcoin critic and CEO of Euro Pacific Capital, has dismissed Bitcoin’s recent climb above $72,000 as a temporary move rather than a genuine breakout.

According to a report from The Block, Schiff attributes the rally to the U.S. Treasury’s announcement of expanded Treasury buybacks, a policy shift he believes is artificially boosting risk assets like Bitcoin.

Schiff’s View: A Policy-Driven Rally, Not a Breakout In a series of social media posts, Schiff argued that the price surge above $72,000 is a ‘fakeout’ that could reverse quickly.

He has long maintained that Bitcoin lacks intrinsic value and is driven primarily by speculation and liquidity conditions.