Prominent Bitcoin critic Peter Schiff has once again sounded the alarm, calling for Bitcoin (CRYPTO: BTC) to potentially drop toward $75,000 — below Strategy’s (NASDAQ:MSTR) average cost price.

What Happened: In an Aug. 26 post on X, Schiff pointed out that Bitcoin slipped below $109,000 — about a 13% correction from recent highs.

He said the decline highlights downside risk despite strong hype and corporate accumulation.

Schiff suggested holders should consider selling now and buying back at lower levels but stressed his advice doesn’t apply to those who don’t already own BTC.

Crypto Twitter quickly piled on, with several users recalling Schiff’s long history of declaring Bitcoin “dead, pointing out he predicted Bitcoin will never hit $100,000. Schiff admitted he was wrong on that one.

One commentator quipped: “BTC is programmed to ensure Peter Schiff is wrong.”

He further said that Schiff has been calling for a Bitcoin crash since $250 while Bitcoin has only increased in value.

Also Read: Bitcoin Is On Top, Ethereum Has Some Catching Up To Do: The Crypto Treasury Play Unfolding On Wall Street

Why It Matters: Schiff has made 18 separate Bitcoin “obituaries,” topping a Hall of Fame list of skeptics who repeatedly predicted its demise.

His latest warning comes as Bitcoin trades 12% below its recent record high, even as corporations add the asset to their balance sheets.

Schiff questioned, “If companies are buying aggressively, who’s selling?” He also noted that gold prices have held flat and the NASDAQ has dipped only 1% over the same period, underscoring Bitcoin’s relative weakness.

Read Next:

• Bitcoin’s Potential September Correction To Below $100,000 Could Be ‘The Real Opportunity’, Trader Touts

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This article Peter Schiff Predicts Bitcoin Could Sink To $75,000: ‘Sell Now, Buy Back Lower’ originally appeared on Benzinga.com

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