Economist and long-time Bitcoin critic Peter Schiff said crypto is “finally starting to crack” after a delayed market response to U.S. President Donald Trump’s new tariffs, announced Friday.
He took aim at Trump’s decision to impose tariffs, which have triggered declines in digital assets and equities globally. “I thought the dumbest thing Trump would do was establish a Strategic Bitcoin Reserve. I was wrong,” he posted.
Despite some initial chatter on Friday about crypto’s resilience to the tariff news, Bitcoin fell 5.6% over the past 24 hours to $78,769, down 27% from its all-time high of $108,786 on January 20, according to CoinGecko.
Ethereum dropped 12% to $1,591, down more than 67% from its November 2021 peak.
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