BlockBeats news, June 4: According to BSCN, Bitcoin long-time critic Peter Schiff recently stated that Tether’s market capitalization will not only surpass Ethereum but eventually exceed Bitcoin. He believes the only uncertainty is not the outcome, but how long it will take to achieve it.
Schiff stated that as stablecoins expand their use in payments, transaction settlements, and the circulation of a digital dollar, demand for USDT may continue to grow faster than volatile assets like Bitcoin. He maintains that Bitcoin lacks intrinsic value, while stablecoins have more clearly defined applications in real financial activities.
However, Schiff also noted that after the recent market downturn, Bitcoin has found short-term support near $61,000. BTC has rebounded more than $2,000 from its recent low, indicating the presence of buying pressure in this area.