As market turmoil sends investors scrambling for stability, some are turning to dollars, Treasuries, gold, or even the Japanese yen. Meanwhile, Bitcoin’s selling spree continues, reinforcing Schiff’s view that it’s more “digital risk” than “digital gold.” The dollar’s rise, due to Trump’s tariffs, creates more uncertainty, with rising import costs putting immense pressure on the U.S. economy. It’s a ticking time bomb, and Bitcoin, as a speculative asset, feels the brunt of it.
Jim Bianco’s analysis further drives home the point—Bitcoin is a 2x or 3x version of the Nasdaq, highly speculative and vulnerable. It was the only asset that hinted at the market’s downfall over the weekend, predicting a sharp decline in stocks.
In response to market turmoil, investors are turning to what they perceive to be safe havens. Some are buying dollars and Treasuries, while others are buying gold or Japanese yen. But investors are selling risk assets like Bitcoin. Bitcoin is not digital gold; it's digital risk.
— Peter Schiff (@PeterSchiff) February 3, 2025
The dollar is rising because Trump hit U.S. consumers with tariffs. If currency traders understood economics, they'd be selling dollars. The U.S. service sector economy depends on low-cost imports to survive. Anything that increases import prices can potentially prick the bubble.
— Peter Schiff (@PeterSchiff) February 2, 2025
Many people are asking why $BTC is down so much on the tariff news.
Because $BTC is a speculative asset. It is a 2x QQQ (if not. 3X).
It was the only thing that opened this weekend, signaling that stocks would open sharply lower—and they did.
—
S&P futures opened down 117… https://t.co/mRYCEAEt8R
— Jim Bianco (@biancoresearch) February 2, 2025
Fucked https://t.co/COVm4udj1m
— Michael A. Gayed, CFA (@leadlagreport) February 3, 2025
228 views