Core Viewpoint - Bitcoin's recent decline has reignited criticism from economist Peter Schiff, who argues that its recovery depends on an unlikely intervention from the U.S. government to purchase large amounts of BTC for its Strategic Reserve, which he views as a taxpayer-funded bailout for speculators [2]. Group 1: Criticism of Bitcoin - Schiff accuses financial media of legitimizing Bitcoin, which he describes as a digital pyramid scheme, suggesting that a collapse would undermine both overleveraged investors and the credibility of institutions that promoted it [3]. - He challenges Bitcoin's cultural mantra of "never sell," claiming it is a psychological tactic used by large investors to keep retail holders invested while they exit [3]. Group 2: Market Conditions and Predictions - With Bitcoin prices falling and many small investors facing forced liquidations due to borrowing against their BTC, structural weaknesses in the market are becoming more apparent [4]. - Schiff maintains a bearish long-term outlook, predicting that Bitcoin could drop significantly below $88,000 by 2026, noting a nearly 30% decline from its peak in dollar terms and a 42% drop when compared to gold [4].