Bitcoin dropped to around $61,500 in recent days, its weakest level in roughly four months, and Peter Schiff wasted no time connecting that slide to a broader argument he has been making about stablecoins.<\/p>\n
Tether\u2019s USDT<\/a> has already climbed to a market capitalization of nearly $188 billion, according to data from DeFiLlama<\/a>, closing the gap with Ethereum to just under $26 billion. Schiff, the economist and longtime Bitcoin critic, says the numbers point to an inevitable outcome.<\/p>\n \u201cThe market cap of Tether will soon surpass the market cap of Ethereum,\u201d Schiff wrote on X. \u201cIt will eventually surpass<\/a> the market cap of Bitcoin, too. The only question is how long it will take.\u201d<\/p>\n USDT has become a dominant tool for moving money across crypto markets, and its reach now extends into payments, remittances, and digital dollar transfers \u2014 a trend he says supports his case.<\/p>\n USDT holds a one-dollar peg, setting it apart from Bitcoin and Ethereum, and that stability makes it the go-to choice for users who want to move money without taking on price risk.<\/p>\n The market cap of Tether will soon surpass the market cap of Ethereum. It will eventually surpass the market cap of Bitcoin too. The only question is how long it will take.<\/p>\n \u2014 Peter Schiff (@PeterSchiff) June 4, 2026<\/a><\/p>\nNot His First Warning<\/h2>\n