Bitcoin dropped to around $61,500 in recent days, its weakest level in roughly 
four months, and Peter Schiff wasted no time connecting that slide to a 
broader argument he has been making about stablecoins. Related Reading: 
Bitcoin Faces Pressure As Investors Rotate Capital Into AI Buildout: Saylor A 
Stablecoin On The Move Tether&#8217;s USDT has already climbed to a market 
capitalization of nearly $188 billion, according to data from DeFiLlama, 
closing the gap with Ethereum to just under $26 billion. Schiff, the economist 
and longtime Bitcoin critic, says the numbers point to an inevitable outcome. 
&#8220;The market cap of Tether will soon surpass the market cap of Ethereum,&#8221; 
Schiff wrote on X. &#8220;It will eventually surpass the market cap of Bitcoin, too. 
The only question is how long it will take.&#8221; USDT has become a dominant tool 
for moving money across crypto markets, and its reach now extends into 
payments, remittances, and digital dollar transfers — a trend he says supports 
his case. USDT holds a one-dollar peg, setting it apart from Bitcoin and 
Ethereum, and that stability makes it the go-to choice for users who want to 
move money without taking on price risk. The market cap of Tether will soon 
surpass the market cap of Ethereum. It will eventually surpass the market cap 
of Bitcoin too. The only question is how long it will take. — Peter Schiff 
(@PeterSchiff) June 4, 2026 Not His First Warning Schiff has been sounding 
alarms about Bitcoin for years. His latest comments include a prediction that 
BTC could eventually fall below $20,000, which would represent a drop of 
roughly 80% from its October 2025 peak near $126,200. He has also pointed to 
weakness in tech stocks as a pressure point for Bitcoin, noting that the 
crypto asset has relied on the broader tech rally for support. &#8220;It looks like 
the correction in tech stocks has finally begun,&#8221; Schiff said. &#8220;As tech stocks 
sell off, Bitcoin should crash. Gold will likely head in the opposite 
direction.&#8221; Bitcoin recently suffered a sharp hourly decline of more than 
$2,000, briefly touching $61,460, as selling pressure spread across the market 
and triggered over $1 billion in leveraged liquidations. USDT&#8217;s Growing Reach 
Reports indicate Ethereum&#8217;s position as the second-largest crypto asset is now 
under pressure from a stablecoin rather than another blockchain competitor. At 
current figures, USDT would need to grow by roughly 15% to pull ahead of 
Ethereum, while matching Bitcoin&#8217;s $1.28 trillion market cap would require a 
far larger expansion of nearly seven times its present size. Related Reading: 
Bitmine Seeks $300M Raise To Accelerate Ethereum Accumulation Strategy 
Schiff&#8217;s prediction has drawn attention not just for its boldness but for its 
timing, arriving as stablecoin adoption continues rising and crypto markets 
face renewed turbulence. Whether the prediction holds up remains an open 
question, though the narrowing gap between USDT and Ethereum suggests the 
first part of his forecast may not be far off. Featured image from Unsplash, 
chart from TradingView

Bitcoin dropped to around $61,500 in recent days, its weakest level in roughly four months, and Peter Schiff wasted no time connecting that slide to a broader argument he has been making about stablecoins. Related Reading: Bitcoin Faces Pressure As Investors Rotate Capital Into AI Buildout: Saylor A Stablecoin On The Move Tether&#8217;s USDT has &#8230;

Bitcoin Critic Peter Schiff Predicts USDT Will Eclipse BTC

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Bitcoin Critic Peter Schiff Predicts USDT Will Eclipse BTC

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