Bitcoin’s Meltdown? 🙄

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Right, so everyone’s panicking because some Japanese bonds decided to be… less terrible? Apparently, that’s enough to send the entire crypto world into a tailspin. Honestly, the drama.

Peter Schiff Gloats as Bitcoin Gets a Reality Check

Oh, look. Peter Schiff is feeling very validated right now.Bitcoin decided to take a little nap below $85K, and he’s all over Twitter – sorry, X – explaining how he totally saw this coming. It’s like watching your aunt predict rain. ☔

“The yield on the 10-year JGB is now 1.84% and rising. That’s causing investors to sell risk assets,” he declared, with what I imagine was a rather smug expression. And then, just to really rub it in:

Stock futures are down, and bitcoin and other cryptos are getting killed.

But wait, there’s more! Gold is up. Naturally. Because according to Schiff, gold is the only sensible place to put your money. Which, you know, is a perfectly reasonable opinion. If you’re a gold bug. 🤷 The 10-year JGB yield then decided to climb even higher, apparently unwinding some complicated “yen carry trade” thing. Honestly, it all sounds terribly exhausting.

Schiff, bless his heart, continues to insist bitcoin is a bubble waiting to burst. A purely speculative bubble. A bubble with no… value. The audacity! He’s convinced everyone who bought Bitcoin was just completely clueless – and he’s more than happy to remind them of it. “If you don’t understand why bitcoin is tanking as precious metals are soaring, it’s because you don’t understand either. ” Lovely. Just peak Schiff, really.

And let’s not forget MicroStrategy (MSTR). He thinks it’s doomed. Apparently, they were selling stock not to buy more Bitcoin, but just to pay the bills. Feels bad, man. 😬

Meanwhile, Arthur Hayes joined the party, saying the Bank of Japan is about to shake things up even further. But crypto fans are all, “Nah, it’s fine. Bitcoin’s still amazing. It’s scarce and decentralized and… stuff.” You know, the usual.

FAQ 🧭

  • Why did bitcoin suddenly decide to have a wobble?
    Japanese bonds went up. Apparently, that’s enough to trigger a full-blown crypto crisis. Who knew?
  • What’s this “yen carry trade” thing?
    Honestly? I have no idea. Something about borrowing money and making… decisions. It sounds complicated, and frankly, I have better things to do.
  • Why is Peter Schiff so obsessed with hating on Bitcoin?
    He loves gold. It’s a whole thing. Don’t try to understand it. Just accept it.
  • Do crypto people still think Bitcoin is the future?
    Yes, absolutely. They’re mostly just trying not to look at their portfolios right now.

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2025-12-02 03:59