Peter Schiff Declares Crypto a “Death Trap” as Bitcoin Hits New Heights—You Won’t Believe His Next Move! 😱💰

by

Once more, the ever-watchful Peter Schiff, that Cassandra of gold and nemesis of digital coinage, has emerged from the shadows to cast his sardonic gaze upon the fevered throngs of crypto enthusiasts. With the air of a man who has seen too much and trusts too little, he proclaims—on that modern confessional, X—that the investors in crypto and tech are, in his words, “ignorant,” as interest rates rise like the tide before a flood.

Bitcoin, that capricious idol, soared today to a delirious $109,000. Yet Schiff, with the grim satisfaction of a prophet ignored, calls it a death trap—a gilded snare for the unwary. One imagines him pacing his study, muttering about tulips and South Sea bubbles, while outside, the revelers dance on the edge of the abyss.

He muses aloud: how high must these long-term interest rates climb before the revelers notice the ground crumbling beneath their feet? “Whatever the breaking point is,” he intones, “we will find out relatively soon.” The tone is almost gleeful, as if he’s waiting for the punchline to a cosmic joke only he understands.

I wonder how much higher long-term interest rates have to rise before tech stocks and crypto investors finally take notice. My guess is whatever the breaking point is, we will find out relatively soon, as long-term interest rates will likely keep rising.

— Peter Schiff (@PeterSchiff) May 21, 2025

Interest Rates: The Grim Reaper at Crypto’s Door? ☠️📈

Schiff, with all the subtlety of a Dostoevskian antihero, warns that pouring money into stocks and cryptos while interest rates climb is akin to betting your last ruble at a rigged roulette table. The house always wins—or so he claims. Economic sentiment shifts like the wind across the steppes, and those who ignore it may find themselves wandering in financial Siberia.

He insists that the moment of reckoning draws near. Interest rates will rise, he says, with all the inevitability of a Russian winter. The present value of future earnings will shrink like hope in a debtor’s prison, and stocks will feel the chill.

Cryptocurrencies, those shimmering phantoms conjured by sentiment and speculation, are especially vulnerable to these macroeconomic tempests. Yet even as Schiff sounds his warning bell, the markets roar with bullish optimism—perhaps whistling past the graveyard.

Today’s spectacle: Bitcoin vaults to an all-time high of $109,586. Speculators cheer; skeptics sigh; Dostoevsky would surely raise an eyebrow at such existential exuberance.

Yet as quickly as it soared, Bitcoin surrendered some gains—slipping back to $106,000. Still, hope springs eternal in the investor’s breast. Perhaps they believe they are Raskolnikovs of finance, destined for redemption rather than ruin. Or perhaps they simply haven’t read enough Dostoevsky.

Would you like me to explain or break down this code?

Read More

2025-05-21 23:23