A wave of selling by long-term Bitcoin holders to so-called ‘weak hands’ is setting the stage for steeper future declines, Peter Schiff has warned.
OG (Original Gangster, or early, long-term BTC holders) sellers now have enough liquidity to cash out, increasing supply and increasing the risk of deeper sell-offs by weak hands with less conviction, he says. said on X.
“Some argue that after all these years, Bitcoin is finally having its IPO moment now that there is enough liquidity for the OGs to cash in,” says Schiff, a longtime Bitcoin critic. “I agree, but that much Bitcoin moving from strong to weak hands not only increases the float, but also means that future sell-offs will be larger.”
Some analysts say long-term Bitcoin whales have started selling off their holdings in recent weeks.
Among them is Owen Gunden, one of the first long-term Bitcoin holders, who sold his entire supply of 11,000 BTC, worth about $1.3 billion, in October and November.
“Rich Dad, Poor Dad” author and investor Robert Kiyosaki announced Friday that he recently sold BTC for a value of about $2.25 million, though he said he remained optimistic about BTC’s prospects. Kiyosaki said he bought Bitcoin when it was worth about $6,000 per coin and sold it for about $90,000.
Bitcoin is the “weakest link,” says Schiff
Schiff’s comments come after Bitcoin rose 10% and 22% in the past month.
BTC price development over the past week (Source: CoinMarketCap)
In an earlier X post, Schiff took issue with YouTuber Andrei Jikh, who had argued that Bitcoin led the decline in risk assets because it is more liquid and easier to trade.
In a recent YouTube video @andreijikh argued that Bitcoin led the decline in risk assets because it is more liquid and easier to trade. The real reason he fails to recognize is that Bitcoin carries the most risk. It is the weakest link in the chain of risk assets, so it broke first.
— Peter Schiff (@PeterSchiff) November 22, 2025
Schiff said the “real reason” is that “Bitcoin carries the most risk.”
“It’s the weakest link in the chain of risky assets, so it broke first,” he said.
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