Peter Schiff Maintains Bitcoin Is Bubble Despite Missing Early Entry

Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Read U.TODAY on Google News The price of Bitcoin is on a roller coaster-like ride today, with the price bouncing in the $67,000-$65,000 range, and while cryptocurrency proponents like Michael Saylor say they have "never been more bullish," a long-standing critic of the digital asset, Peter Schiff , reiterated his stance in a new X post. Advertisement What makes Schiff's new statement about Bitcoin surprising is his admission that he underestimated the amount of "dumb" money willing to buy Bitcoin. In his sarcastic manner, he wishes he "were smart enough" to realize how big the greed and fear of missing out (FOMO) would be. $126K miscalculation by Peter Schiff and "dumb money" win It is important to note that the ex-banker did not abandon his view that Bitcoin lacks intrinsic value. On the contrary, he concedes that he misjudged the scale of speculative participation that would drive the cryptocurrency's price from as low as $1, when he first became aware of BTC , to as high as $126,198. HOT Stories Morning Crypto Report: XRP at Five-Week High in Bullishness, Ether 2026 Roadmap Update Ahead of Glamsterdam, Robinhood Chain Hits 4 Million Transactions: CEO Tenev Coinbase CEO Predicts Win-Win-Win Outcome in Market Structure Saga It is the early buyers who triggered a rally that compelled even skeptics to reconsider, creating a feedback loop fueled by rising prices and investor psychology, says Schiff. Advertisement I wish I were smart enough to have realized how many people would be dumb enough to buy Bitcoin when I first learned about it. Because so many were dumb enough, the price rose so high that others who were also too smart felt dumb and bought it too. Then greed and FOMO kicked in. — Peter Schiff (@PeterSchiff) February 19, 2026 If one were to argue with Schiff, they would say that despite repeated corrections by 70% and more, the asset is now present in spot exchange-traded funds in the United States, deep derivatives markets — CME for example — and expanding institutional custody infrastructure, elements absent during Bitcoin’s early years when the expert first criticized it. You Might Also Like Thu, 02/19/2026 - 14:52 Peter Brandt Rejects Gold-to-Bitcoin 'Great Rotation' Theory By Gamza Khanzadaev Advertisement Still, as of the middle of February 2026, Bitcoin continues to sideways chop between $71,000 and $60,000 after a sell-off earlier this month. Given the current price action, it is evident that the criticism and "bearish" rhetoric toward Bitcoin right now is more "fashionable," and thus Schiff is too, than during the latest round of price appreciation. #Bitcoin #Peter Schiff #Bitcoin News