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Peter Schiff has warned of a “crypto ice age” as Bitcoin and the broader crypto market slide, while calling Michael Saylor’s BTC treasury strategy ‘’harebrained.’’
Schiff’s warning came as the crypto market was rocked by almost $1 billion in liquidations in the last 24 hours, sending Bitcoin nosediving close to $109k and Ethereum below $4k.
The Crypto Fear & Greed Index plunged to a ”Fear” reading of 28, down from 44 yesterday, its lowest level since April.
“We are not about to enter another crypto winter, as that implies another spring will soon follow,” said Schiff, a long-time critic of Bitcoin, on X. “Get ready for a crypto ice age. Got gold?”
LATEST🚨 PETER SCHIFF WARNS ETHEREUM’S DIP BELOW $4K HINTS AT A BEAR MARKET AND SAYS #BITCOIN MIGHT FOLLOW pic.twitter.com/5aOSvX0tPL
— That Martini Guy ₿ (@MartiniGuyYT) September 26, 2025
Schiff Doubts If Strategy Will Survive
Schiff slammed companies that are copying the strategy of Saylor’s Strategy, which is the biggest corporate investor in Bitcoin, noting that its MSTR shares have plunged more than 45% since their 2024 peak.
”This is going to be a brutal market for Bitcoin Treasury companies,” he said. ”I’m not sure if any, including MSTR, will survive it.”
MSTR stock has dropped below $300 for the first time since April after falling about 8% yesterday to around $294. It’s now down more than 14% in the past month, wiping out its year-to-date gains.
Still, Saylor has continued buying, adding 850 BTC last week to bring holdings to 639,835 BTC worth over $47 billion.
Earlier in the day, Schiff also warned on X that Ethereum was in a bear market after dropping 20% from its all-time high in August
CryptoQuant Says Crypto Treasury Firms Face 50% Downside Risk
KindlyMD crashed 97% after its PIPE shares unlocked, it noted, while adding that Strive (ASST) and Cantor Equity Partners could drop 55% and 50%, respectively, if they revert to their PIPE deal prices.
With over $2.5 billion raised through PIPEs, only a strong Bitcoin rally may prevent further stock declines, it said.
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