Bitcoin Critic Peter Schiff Predicts USDT Will Eclipse BTC

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.

A Stablecoin On The Move

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 beneath $26 billion. Schiff, the economist and longtime Bitcoin critic, says the numbers level to an inevitable final result.

“The market cap of Tether will quickly surpass the market cap of Ethereum,” Schiff wrote on X. “It will ultimately surpass the market cap of Bitcoin, too. The solely query is how lengthy it would take.”

USDT has grow to be a dominant software for transferring cash throughout crypto markets, and its attain now extends into funds, remittances, and digital greenback transfers — a development he says helps his case.

USDT holds a one-dollar peg, setting it other than Bitcoin and Ethereum, and that stability makes it the go-to selection for customers who wish to transfer cash with out taking up value threat.

The market cap of Tether will quickly surpass the market cap of Ethereum. It will ultimately surpass the market cap of Bitcoin too. The solely query is how lengthy it would take.

— Peter Schiff (@PeterSchiff) June 4, 2026

Not His First Warning

Schiff has been sounding alarms about Bitcoin for years. His newest feedback embody a prediction that BTC may ultimately fall beneath $20,000, which might symbolize a drop of roughly 80% from its October 2025 peak close to $126,200.

He has additionally pointed to weak spot in tech shares as a strain level for Bitcoin, noting that the crypto asset has relied on the broader tech rally for assist.

“It appears just like the correction in tech shares has lastly begun,” Schiff mentioned. “As tech shares dump, Bitcoin ought to crash. Gold will possible head in the wrong way.”

Bitcoin lately suffered a pointy hourly decline of greater than $2,000, briefly touching $61,460, as promoting strain unfold throughout the market and triggered over $1 billion in leveraged liquidations.

USDT’s Growing Reach

Reports point out Ethereum’s position because the second-largest crypto asset is now beneath strain from a stablecoin slightly than one other blockchain competitor.

At present figures, USDT would wish to develop by roughly 15% to tug forward of Ethereum, whereas matching Bitcoin’s $1.28 trillion market cap would require a far bigger enlargement of almost seven occasions its current measurement.

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 the prediction holds up stays an open query, although the narrowing hole between USDT and Ethereum suggests the primary a part of his forecast might not be far off.

Featured picture from Unsplash, chart from TradingView