Arab Press

بالشعب و للشعب
Thursday, Sep 18, 2025

‘This is crypto extinction’: Peter Schiff predicted the 2008 financial crash — now he sees the total destruction of digital currencies very soon

‘This is crypto extinction’: Peter Schiff predicted the 2008 financial crash — now he sees the total destruction of digital currencies very soon

With the massive pullback in cryptocurrency prices and the collapse of crypto exchange FTX, the term “crypto winter” is now making headlines. But Peter Schiff, CEO and chief global strategist at Euro Pacific Capital, doesn’t believe that’s an accurate term to describe the situation.

“This is not a #crypto winter. That implies spring is coming. This is also not a crypto ice age, as even that came to an end after a couple of million years,” he writes in a tweet. “This is crypto extinction.”

That’s a dire warning. But it’s not the first time Schiff has sounded the alarm.

Last year, when bitcoin hit $50,000 and the upward momentum seemed unstoppable, he said “While a temporary move up to $100K is possible, a permanent move down to zero is inevitable.”

If you share the same view, you probably want to know where Schiff is finding refuge in this ugly market.

Since Euro Pacific Asset Management has released its latest 13F filing — a report that institutional investment managers file quarterly to disclose their holdings — let’s take a look at some notable themes in Schiff’s portfolio.


Gold

Schiff has long been a fan of the yellow metal.

“The problem with the dollar is it has no intrinsic value,” he once said. “Gold will store its value, and you'll always be able to buy more food with your gold."

In fact, when Schiff tweeted about the crypto extinction, he also mentioned that gold “will rise again to lead a new breed of asset-backed cryptos.”

As always, he’s putting his money where his mouth is.

As of Sept. 30, Euro Pacific Asset Management held 1.655 million shares of Barrick Gold (GOLD), 431,952 shares of Agnico Eagle Mines (AEM), and 317,495 shares of Newmont (NEM).

In fact, Barrick was the firm’s top holding, representing 6.8% of its portfolio. Agnico and Newmont were the third and sixth-largest holdings, respectively.

Gold can’t be printed out of thin air like fiat money, and its safe-haven status means demand typically increases during times of uncertainty.

If gold prices go up, miners like Newmont, Barrick, and Agnico will likely enjoy bigger profits.


Recession-proof income stocks

Dividend stocks offer investors a great way to earn a passive income stream, but some can also be used as a hedge against recessions.

Case in point: The second-largest holding at Euro Pacific is cigarette giant British American Tobacco (BTI), accounting for 5.3% of the portfolio.

The maker of Kent and Dunhill cigarettes pays quarterly dividends of 74 cents per share, giving the stock an attractive annual yield of 7.3%.

Schiff’s fund also owns over 157,766 shares of Philip Morris International (PM), another tobacco king with a dividend yield of 5.0%. The Marlboro cigarette producer is Euro Pacific’s seventh-largest holding with a portfolio weighting of 3.5%.

The demand for cigarettes is highly inelastic, meaning large price changes only induce small changes in demand — and that demand is largely immune to economic shocks.

If you’re comfortable with investing in so-called sin stocks, British American and Philip Morris might be worth researching further.


Agriculture

When it comes to playing defense, there’s one recession-proof sector that shouldn’t be overlooked: agriculture.

It’s simple. Whatever happens, people still need to eat.

Schiff doesn’t talk about agriculture as much as precious metals, but Euro Pacific does own 124,818 shares of fertilizer producer Nutrien (NTR).

As one of the world’s largest providers of crop inputs and services, Nutrien is positioned solidly even if the economy enters a major downturn. In the first nine months of 2022, the company generated record net earnings of $6.6 billion.

Nutrien shares are down about 3% in 2022, not nearly as bad as the S&P 500’s 20% decline year-to-date.

Given the uncertainties facing the U.S. economy, investing in agriculture could give risk-averse investors peace of mind.


Newsletter

Related Articles

Arab Press
0:00
0:00
Close
Saudi Arabia cracks down on music ‘lounges’ after conservative backlash
Saudi Arabia Signs ‘Strategic Mutual Defence’ Pact with Pakistan, Marking First Arab State to Gain Indirect Access to Nuclear Strike Capabilities in the Region
Turkish car manufacturer Togg Enters German Market with 5-Star Electric Sedan and SUV to Challenge European EV Brands
World’s Longest Direct Flight China Eastern to Launch 29-Hour Shanghai–Buenos Aires Direct Flight via Auckland in December
New OpenAI Study Finds Majority of ChatGPT Use Is Personal, Not Professional
Kuwait opens bidding for construction of three cities to ease housing crunch.
Indian Student Engineers Propose “Project REBIRTH” to Protect Aircraft from Crashes Using AI, Airbags and Smart Materials
Could AI Nursing Robots Help Healthcare Staffing Shortages?
Turkish authorities seize leading broadcaster amid fraud and tax investigation
Apple Introduces Ultra-Thin iPhone Air, Enhanced 17 Series and New Health-Focused Wearables
Big Oil Slashes Jobs and Investments Amid Prolonged Low Crude Prices
Social Media Access Curtailed in Turkey After CHP Calls for Rallies Following Police Blockade of Istanbul Headquarters
Gold Could Reach Nearly $5,000 if Fed Independence Is Undermined, Goldman Sachs Warns
Uruguay, Colombia and Paraguay Secure Places at 2026 World Cup
Trump Administration Advances Plans to Rebrand Pentagon as Department of War Instead of the Fake Term Department of Defense
Tether Expands into Gold Sector with Profit-Driven Diversification
Trump’s New War – and the ‘Drug Tyrant’ Fearing Invasion: ‘1,200 Missiles Aimed at Us’
At the Parade in China: Laser Weapons, 'Eagle Strike,' and a Missile Capable of 'Striking Anywhere in the World'
Information Warfare in the Age of AI: How Language Models Become Targets and Tools
Israeli Airstrike in Yemen Kills Houthi Prime Minister
After the Shock of Defeat, Iranians Yearn for Change
YouTube Altered Content by Artificial Intelligence – Without Permission
Iran Faces Escalating Water Crisis as Protests Spread
More Than Half a Million Evacuated as Typhoon Kajiki Heads for Vietnam
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Dogfights in the Skies: Airbus on Track to Overtake Boeing and Claim Aviation Supremacy
Tim Cook Promises an AI Revolution at Apple: "One of the Most Significant Technologies of Our Generation"
Are AI Data Centres the Infrastructure of the Future or the Next Crisis?
Miles Worth Billions: How Airlines Generate Huge Profits
Zelenskyy Returns to White House Flanked by European Allies as Trump Pressures Land-Swap Deal with Putin
Beijing is moving into gold and other assets, diversifying away from the dollar
Trump Backs Putin’s Land-for-Peace Proposal Amid Kyiv’s Rejection
Zelenskyy to Visit Washington after Trump–Putin Summit Yields No Agreement
Iranian Protection Offers Chinese Vehicle Shipments a Cost Advantage over Japanese and Korean Makers
United States Sells Luxury Yacht Amadea, Valued at Approximately $325 Million, in First Sale of a Seized Russian Yacht Since the Invasion of Ukraine
Saudi Arabia accelerates renewables to curb domestic oil use
Cristiano Ronaldo and Georgina Rodríguez announce engagement
Asia-Pacific dominates world’s busiest flight routes, with South Korea’s Jeju–Seoul corridor leading global rankings
Private Welsh island with 19th-century fort listed for sale at over £3 million
Sam Altman challenges Elon Musk with plans for Neuralink rival
Australia to Recognize the State of Palestine at UN Assembly
The Collapse of the Programmer Dream: AI Experts Now the Real High-Earners
Armenia and Azerbaijan to Sign US-Brokered Framework Agreement for Nakhchivan Corridor
British Labour Government Utilizes Counter-Terrorism Tools for Social Media Monitoring Against Legitimate Critics
WhatsApp Deletes 6.8 Million Scam Accounts Amid Rising Global Fraud
Texas Residents Face Water Restrictions While AI Data Centers Consume Millions of Gallons
India Rejects U.S. Tariff Threat, Defends Russian Oil Purchases
United States Establishes Strategic Bitcoin Reserve and Digital Asset Stockpile
Thousands of Private ChatGPT Conversations Accidentally Indexed by Google
×