NewsBTC •
June 5, 2026 at 19:40 •
Analysis
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’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. “The market cap of Tether will soon surpass the market cap of Ethereum,” Schiff wrote on X. “It will eventually surpass the market cap of Bitcoin, too. The only question is how ...
