Schiff: Bond Bear Market Will Take Down Dollar, Bitcoin's Bull Run Is Over

Peter Schiff warns that the bond bear market is just getting started and will have far-reaching consequences for the dollar. In an interview with Bitcoin Magazine, he explained that what we're witnessing isn't a sudden shock, but rather the long overdue reversal of a decades-long trend.

The bull market in bonds ended in 2020, after a 40-year run, and has been slowly unraveling since then, Schiff said. He noted that the yield on the 10-year treasury was below 1% at its peak and is now up to 5%, a six-year climb.

Schiff believes that as confidence in the bond market erodes, it will take down the dollar with it. 'All bonds really are promises to pay dollars,' he said. 'If you're losing confidence in the dollar, then there's no reason to own treasuries.'