Peter Schiff Warns Bitcoin Rally Driven by 46 Companies Buying 159,000 BTC

Economist and gold advocate Peter Schiff has once again expressed his skepticism about the recent surge in Bitcoin's value, asserting that the rally is not driven by widespread adoption but rather by speculative behavior. Schiff, known for his critical stance on cryptocurrencies, described the current Bitcoin trend as a "Ponzi built on a pyramid," suggesting that the underlying structure is fragile and unsustainable.

Schiff's concerns stem from the significant influx of corporate treasury buys, which he believes are the primary drivers of Bitcoin's recent price surge. In the second quarter of 2025, over 46 public companies acquired approximately 159,000 BTC, bringing the total corporate holdings to around 847,000 BTC. This figure represents about 4% of the total Bitcoin supply. Notable companies that have recently added Bitcoin to their treasuries include GameStop, Trump Media, and Figma.

Crypto enthusiasts view this trend as a positive sign, interpreting it as institutional validation and a step towards mainstream acceptance. This perspective is further bolstered by the ongoing discussions in the U.S. legislature regarding pro-crypto bills. However, Schiff remains unconvinced, warning that the current momentum is fueled by speculation rather than genuine adoption. He cautions that if the inflow of corporate investments slows down, the entire structure could collapse, leading to a significant drop in Bitcoin's value.

Schiff's criticisms, while consistent with his long-standing views on cryptocurrencies, continue to hold weight in traditional financial circles. Despite the challenges posed by Bitcoin's rise to the established financial order, Schiff's warnings serve as a reminder of the potential risks associated with speculative investments. His perspective highlights the need for a balanced view of the cryptocurrency market, acknowledging both its potential and its inherent volatility.