Bitcoin dropped to round $61,500 in latest days, its weakest stage in roughly 4 months, and Peter Schiff wasted no time connecting that slide to a broader argument he has been making about stablecoins.
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A Stablecoin On The Transfer
Tether’s USDT has already climbed to a market capitalization of almost $188 billion, in keeping with knowledge from DeFiLlama, closing the hole with Ethereum to simply below $26 billion. Schiff, the economist and longtime Bitcoin critic, says the numbers level to an inevitable consequence.
“The market cap of Tether will quickly surpass the market cap of Ethereum,” Schiff wrote on X. “It’ll ultimately surpass the market cap of Bitcoin, too. The one query is how lengthy it’ll take.”
USDT has change into a dominant software for transferring cash throughout crypto markets, and its attain now extends into funds, remittances, and digital greenback transfers — a pattern he says helps his case.
USDT holds a one-dollar peg, setting it aside from Bitcoin and Ethereum, and that stability makes it the go-to alternative for customers who need to transfer cash with out taking up worth danger.
The market cap of Tether will quickly surpass the market cap of Ethereum. It’ll ultimately surpass the market cap of Bitcoin too. The one query is how lengthy it’ll take.
— Peter Schiff (@PeterSchiff) June 4, 2026
Not His First Warning
Schiff has been sounding alarms about Bitcoin for years. His newest feedback embrace a prediction that BTC might ultimately fall beneath $20,000, which might signify a drop of roughly 80% from its October 2025 peak close to $126,200.
He has additionally pointed to weak point in tech shares as a stress level for Bitcoin, noting that the crypto asset has relied on the broader tech rally for assist.
“It appears to be like just like the correction in tech shares has lastly begun,” Schiff mentioned. “As tech shares unload, Bitcoin ought to crash. Gold will seemingly head in the other way.”
Bitcoin just lately suffered a pointy hourly decline of greater than $2,000, briefly touching $61,460, as promoting stress unfold throughout the market and triggered over $1 billion in leveraged liquidations.
USDT’s Rising Attain
Studies point out Ethereum’s position because the second-largest crypto asset is now below stress from a stablecoin moderately than one other blockchain competitor.
At present figures, USDT would want to develop by roughly 15% to drag forward of Ethereum, whereas matching Bitcoin’s $1.28 trillion market cap would require a far bigger growth of almost seven occasions its current measurement.
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Schiff’s prediction has drawn consideration not only for its boldness however for its timing, arriving as stablecoin adoption continues rising and crypto markets face renewed turbulence.
Whether or not the prediction holds up stays an open query, although the narrowing hole between USDT and Ethereum suggests the primary a part of his forecast is probably not far off.
Featured picture from Unsplash, chart from TradingView
