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Peter Schiff Skeptic About Bitcoin, Quashes BTC Reserve Plans

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Peter Schiff, an economist and well-known Bitcoin (BTC) critic, took to social media to voice his continued skepticism and deliver a scathing critique of the pioneer crypto’s meteoric rise.

The long-time gold proponent called the recent surge a “bubble” and warned of catastrophic consequences for investors and the economy.

Schiff’s criticism of Bitcoin has been longstanding. His latest remarks echo previous claims that cryptocurrency and blockchain are “popular delusions” driven by speculative fervor.

“Crypto and blockchain will likely go down as the biggest example of popular delusions and the madness of crowds in world history. The overall losses when the bubble finally pops will be staggering,” Schiff wrote on X (formerly Twitter).

He continued by warning that not just speculative buyers might suffer. In his opinion, the infrastructure and investments surrounding Bitcoin will crumble as well. This, Schiff says, would amount to what he sees as “the biggest misallocation of resources in human history.”

Schiff also suggested that Bitcoin’s collapse could tarnish the reputation of libertarian capitalism and the concept of sound money.

These comments sparked a renewed debate among his critics and Bitcoin enthusiasts, some of whom accuse him of secretly owning Bitcoin. Many believe that Schiff’s harsh criticism is merely a tactic to keep Bitcoin’s price down so he can buy in at a lower price.

“I get a kick out of Bitcoin fanatics who accuse me of secretly owning Bitcoin but refusing to publicly wear the ribbon. They are just so drunk on the Kool-Aid that they can’t accept that I legitimately disagree with their perspective,” Schiff recently responded to the allegations.

Schiff dismissed the speculation and asserted that he fundamentally disagreed with Bitcoin’s value. He views it as a bubble that will inevitably burst.

The animosity between Schiff and Bitcoin advocates is not new. He has consistently dismissed the cryptocurrency since its early days.  

One user highlighted this point, accusing Schiff of predicting Bitcoin’s failure since it was priced at just $1. Schiff responded, saying, “No, when it was $1, I had no idea the bubble would ever get this big. Had I realized that back then, I would have loaded up on Bitcoin.”

This admission acknowledges the scale of Bitcoin’s price growth, though the economist continues to insist that the rise is unsustainable.

Schiff Quashes Hopes of US Bitcoin Reserve

Further, Schiff recently commented on the possibility of the US government establishing a Bitcoin reserve, as Donald Trump committed to. However, the Bitcoin critique argues that such a move would be disastrous. He notes that it would lead to a series of inflationary shocks that could destabilize the economy.

Peter Schiff’s hypothetical scenario outlines the US government purchasing one million Bitcoin, driving prices up and prompting long-term holders to cash out. According to Schiff, this would trigger a crash, compelling the government to print more money to stabilize Bitcoin’s price.

In turn, this would devalue the dollar. Schiff warns that this cycle could result in hyperinflation, rendering the dollar worthless. Ultimately, this would cause Bitcoin to collapse as well.

“That would cause the market to crash, forcing the US government to print even more dollars to buy more Bitcoin to prevent the price from crashing, thereby diminishing the value of its Bitcoin reserve. Of course, a reserve of something you can never sell and must continuously buy is worthless as a reserve. To maintain the pretense that its Bitcoin reserve has actual value, the US government would be forced to keep buying, destroying the value of the dollar in the process,” Schiff explained.

Schiff’s bleak vision of a potential Bitcoin reserve is rooted in his belief that Bitcoin lacks intrinsic value and is not a sustainable store of wealth. According to Schiff, a Bitcoin reserve would only exacerbate volatility in the market and lead to economic collapse. His apocalyptic forecast met with derision from prominent Bitcoin advocates, including MicroStrategy’s Michael Saylor, who responded to Schiff’s scenario.  

“You finally made me laugh, Peter,” Saylor quipped.

The MicroStrategy executive’s jest captures the ongoing tension between Bitcoin supporters who view it as a revolutionary asset and skeptics who see it as a bubble primed to burst.

Despite the skepticism from critics like Schiff, Bitcoin’s trajectory has defied expectations over the years. It has grown from a fringe digital asset to a trillion-dollar market. Many investors and institutions like BlackRock now see it as a legitimate hedge against inflation and a decentralized alternative to traditional finance (TradFi).

Peter Schiff, however, maintains his stance that Bitcoin’s allure is based on hype rather than fundamental value. He warns that the fallout from its eventual collapse will leave a lasting impact on investors and society.

BTC Price Performance. Source: BeInCrypto

Meanwhile, Bitcoin’s value shows no signs of slowing down. It has been up by over 8% since Monday’s session opened. At the time of writing, BTC is trading for $88,244.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Marathon Digital to Sell $2 Billion in Stock to Buy Bitcoin

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Marathon Digital Holdings, one of the largest Bitcoin mining companies in the US, made headlines with its announcement of a $2 billion stock offering to increase its Bitcoin holdings. 

This strategic move, detailed in recent SEC filings, shows Marathon’s aggressive approach to capitalize on the growing crypto market. 

Marathon’s $2 Billion Stock Offering: Key Details

On March 30, 2025, Marathon Digital Holdings announced a $2 billion at-the-market (ATM) stock offering to fund its strategy of acquiring more Bitcoin. The company filed a Form 8-K with the SEC, outlining its plan to raise capital through the sale of shares, with the proceeds primarily aimed at increasing its Bitcoin holdings. 

According to the SEC filing (Form 424B5), Marathon intends to use the funds for “general corporate purposes,” which include purchasing additional Bitcoin and supporting operational needs.

Marathon holds 46,376 BTC, making it the second-largest publicly traded company in Bitcoin ownership, behind MicroStrategy. The company’s Bitcoin holdings have grown significantly in recent years, from 13,726 BTC in early 2024 to the current figure. 

“We believe we are the second largest holder of bitcoin among publicly traded companies. From time to time, we enter into forward or option contracts and/or lend bitcoin to increase yield on our Bitcoin holdings.” Marathon confirmed

This $2 billion stock offering continues Marathon’s strategy to bolster its balance sheet with Bitcoin, a move that aligns with its long-term vision of leveraging cryptocurrency as a store of value.

Marathon’s strategy mirrors that of MicroStrategy. MicroStrategy’s stock price has soared with Bitcoin’s value, providing a blueprint for companies like Marathon to follow. By increasing its Bitcoin holdings, Marathon aims to position itself as a leader in the crypto mining sector while diversifying its revenue streams beyond traditional mining operations.

Marathon Digital CEO Fred Thiel advises investing small amounts in Bitcoin monthly, citing its consistent long-term growth potential.

The issuance of new shares to raise $2 billion could dilute the ownership of existing shareholders, potentially impacting the company’s stock price (MARA). As of March 31, 2025, MARA stock has experienced volatility, trading at around $12.47 per share, down from a 52-week high of $24, according to data from Yahoo Finance.

Moreover, Marathon’s heavy reliance on Bitcoin exposes it to the cryptocurrency’s price fluctuations. If Bitcoin’s price were to decline significantly, the value of Marathon’s holdings would decrease, potentially straining its financial position.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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US Macroeconomic Indicators This Week: NFP, JOLTS, & More

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Crypto markets have much to look forward to this week, which marks the end of the first quarter (Q1). As Q2 commences on Tuesday, several US economic data will drive Bitcoin (BTC) and crypto sentiment this week.

Traders and investors will watch a slate of US economic data releases that could ripple through Bitcoin and altcoin prices.

5 US Economic Data To Watch This Week

These US macroeconomic indicators could drive volatility amid fresh insights into the health of the world’s largest economy.

US economic data with crypto implications this week
US economic data with crypto implications this week. Source: MarketWatch

“Buckle up—volatility’s knocking. Right on time for the monthly shake-up,” a user on X quipped.

JOLTS

The first is the Job Openings and Labor Turnover Survey, or JOLTS, due for release on Tuesday, April 1. This report tracks available job vacancies in the US, effectively offering a window into employer confidence and labor market demand.

A strong showing, with openings exceeding recent trends of around 7.7 million, would suggest a strong economy. While this would strengthen the US dollar, it would dampen Bitcoin’s appeal as a hedge against weakness.

Conversely, a sharp drop in openings might stoke expectations of Federal Reserve rate cuts to bolster the economy. This outcome would lift risk assets like Bitcoin and crypto as investors seek alternatives to low-yield bonds.

ADP Employment

Adding to the list of US macroeconomic indicators this week is the ADP Employment report on Wednesday, April 2. This report will provide a private-sector payroll snapshot, serving as a preview of Friday’s main event.

There is a median forecast of 120,000 for March, following the previous month’s 77,000 reading. If job growth tops the consensus forecast, it could reinforce confidence in traditional markets, possibly pressuring crypto prices as the dollar gains ground.

On the other hand, a weaker-than-expected figure, say below 77,000, might hint at a slowdown. This would boost Bitcoin’s allure as a safe haven amid uncertainty. While not as authoritative as the official numbers, surprises here often set the tone for crypto traders adjusting their positions.

Liberation Day

Meanwhile, the stakes are high this week, with the US economy enduring uncertainties like Trump-era policies, including tariffs and government streamlining efforts. BeInCrypto reported on the upcoming Liberation Day, which is expected to bring new tariff announcements targeting nations imposing trade barriers.

“The last two months have already hurt American businesses and consumers, but the April 2 deadline seriously could make all of that look like a tempest in a teapot. We don’t know exactly what they’re going to do, but from what they’re saying, it sounds functionally like new tariffs on all US imports,” said Joseph Politano, economic policy analyst at Apricitas Economics.

Analysts predict extreme market volatility, with potential stock and crypto crashes reaching 10-15% if Trump enforces broad tariffs.

“April 2nd is similar to election night. It is the biggest event of the year by an order of magnitude. 10x more important than any FOMC, which is a lot. And anything can happen, “Alex Krüger predicted.

Initial Jobless Claims

On Thursday, April 3, crypto markets will watch the Initial Jobless Claims report, which shows the number of US citizens filing for unemployment insurance. Released weekly, this is a near-real-time pulse on layoffs and labor market stability.

Fewer claims, under the previous week’s 224,000 reading, could suggest resilience, supporting the dollar but tempering crypto enthusiasm. However, potentially exceeding the median forecast of 226,000 might raise red flags about economic health.

Such an outcome would drive demand for decentralized assets to hedge against potential turmoil. Given its weekly cadence, this report tends to spark quick reactions in the crypto market, especially when amplified by broader narratives like government efficiency cuts or tariff impacts in 2025.

US Employment Report

The week’s crescendo arrives Friday, April 4, with the US Employment Report, widely known as Non-Farm Payrolls. This comprehensive labor market update—including jobs added, the unemployment rate, and wage growth—is a linchpin for markets worldwide.

A strong report, higher than the previous reading of 151,000 jobs and a steady 4.1% unemployment rate, could bolster faith in the economy. This could curb crypto gains if the dollar rallies.

However, strong wage growth exceeding 0.3% month-over-month (MoM) might rekindle inflation fears, indirectly supporting Bitcoin as a store of value.

Conversely, a disappointing tally—under the median forecast of 140,000 jobs with unemployment ticking beyond 4.1%—could ignite recession worries. This would send investors flocking to Bitcoin and crypto.

Significant deviations from consensus forecasts, often by 50,000 jobs or more, have historically triggered sharp Bitcoin moves of 1-2% or greater.

“BofA [Bank of America] Securities expects a pickup in job growth for March. Keep an eye on those numbers,” crypto researcher Orlando noted.

For crypto market participants, the game plan is clear: track consensus estimates on economic calendars, watch real-time reactions, and brace for swings. Nevertheless, this week’s data could dictate Bitcoin’s next move in Q2 2025, particularly in April.

Fed Chair Jerome Powell will also address the economic outlook at the SABEW Annual Conference on Friday at 11:25 a.m. EST.

Bitcoin (BTC) Price Performance
Bitcoin (BTC) Price Performance. Source: BeInCrypto

BeInCrypto data shows BTC was trading for $82,192 as of this writing, down by over 1% in the last 24 hours.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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Gold Keeps Outperforming Bitcoin Amid Trump’s Trade War Chaos

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Bitcoin (BTC) has long been touted as “digital gold.” However, as the global economy reels from escalating trade war tensions under Trump’s second term, institutional investors are fleeing to the real thing.

A recent Bank of America (BofA) survey found that 58% of fund managers view gold as the best-performing haven in a trade war—leaving Bitcoin with only a 3% preference.

Bitcoin’s Haven Status Faces a Reality Check

Gold is proving its dominance as the crisis asset of choice while Bitcoin struggles to hold its ground. This comes amid rising geopolitical risks, the ballooning US deficit, and uncertainty driving capital flight.

“In a recent Bank of America survey, 58% of fund managers said gold performs best in a trade war. This compares to just 9% for 30-year Treasury Bonds and 3% for Bitcoin,” The Kobeissi Letter noted.

Survey of Gold vs. Bitcoin during trade wars
Survey of Gold vs. Bitcoin during trade wars. Source: Bank of America

For years, Bitcoin advocates have championed it as a hedge against economic instability. Yet, in 2025’s volatile macro environment, Bitcoin struggles to earn institutional investors’ full trust.

The Bank of America survey reflects this status, with long-term US Treasury bonds and even the US dollar losing appeal as trade wars and fiscal dysfunction shake market confidence.

The US deficit crisis—now projected to exceed $1.8 trillion—has further eroded confidence in traditional safe havens like US Treasuries.

“This is what happens when the global reserve currency no longer behaves as the global reserve currency,” a trader quipped in a post.

However, instead of looking to Bitcoin as an alternative, institutions are overwhelmingly choosing gold, doubling physical gold purchases to record levels.

Gold vs. Bitcoin. Source
Gold vs. Bitcoin. Source: TradingView

Barriers To Bitcoin Institutional Adoption

Despite its fixed supply and decentralization, Bitcoin’s short-term volatility remains a key barrier to institutional adoption as a true safe-haven asset.

While some traders still view Bitcoin as a long-term store of value, it lacks the immediate liquidity and risk-averse appeal that gold provides during crises.

Further, President Trump is expected to announce sweeping new tariffs on “Liberation Day.” Experts flag the event as a potential trigger for extreme market volatility.

“April 2nd is similar to election night. It is the biggest event of the year by an order of magnitude. 10x more important than any FOMC, which is a lot. And anything can happen, “Alex Krüger predicted.

Trade tensions have historically driven capital into safe-haven assets. With this announcement looming, investors preemptively position themselves again, favoring gold over Bitcoin.

“Gold’s no longer just a hedge against inflation; it’s being treated as the hedge against everything: geopolitical risk, de-globalization, fiscal dysfunction, and now, weaponized trade. When 58% of fund managers say gold is the top performer in a trade war, that’s not just sentiment that’s allocation flow. When even long bonds and the dollar take a back seat, it’s a signal: the old playbook is being rewritten. In a world of rising tariffs, FX tension, and twin deficits, gold might be the only politically neutral store of value left,” trader Billy AU observed.

Despite Bitcoin’s struggle to capture institutional safe-haven flows in 2025, its long-term narrative remains intact.

Specifically, the global reserve currency system is changing, US debt concerns are mounting, and monetary policies continue to shift. Despite all these, Bitcoin’s value proposition as a censorship-resistant, borderless asset is still relevant.

However, in the short term, its volatility and lack of widespread institutional adoption as a crisis hedge mean gold is taking the lead.

For Bitcoin believers, the key question is not whether Bitcoin will one day challenge gold but how long institutions will adopt it as a flight-to-safety asset.

Until then, gold remains the undisputed king in times of economic turmoil. Meanwhile, Bitcoin (BTC exchange-traded funds notwithstanding) fights to prove its place in the next financial paradigm shift.

“The ETF demand was real, but some of it was purely for arbitrage…There was a genuine demand for owning BTC, just not as much as we were led to believe,” analyst Kyle Chassé said recently.

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.



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