Peter Schiff Predicts Tether's Market Cap Will Surpass Bitcoin

Bitcoin critic Peter Schiff recently stated that Tether's market capitalization will not only exceed Ethereum but eventually surpass Bitcoin. According to ChainCatcher, Schiff emphasized that the uncertainty lies not in the outcome but in the duration required for this process. Schiff noted that as stablecoins increasingly find applications in payments, transaction settlements, and digital dollar circulation, the demand for USDT may grow faster than for volatile assets like Bitcoin. He maintains that Bitcoin lacks intrinsic value, whereas stablecoins have clearer uses in financial activities. However, Schiff also mentioned that after the recent market downturn, Bitcoin has found short-term support around $61,000. BTC has rebounded over $2,000 from its recent low, indicating some buying interest in this area.