Key Highlights
- Peter Schiff said Bitcoin’s price increase following the SEC’s tokenized-stock announcement was illogical and bearish for BTC.
- Bitcoin traded at $81,290.43 on September 19, up 1.6% over 24 hours, according to the CoinGecko data.
- The SEC’s September 17 order provides temporary, conditional relief for qualifying venues trading tokenized NMS stocks through permissioned AMMs and liquidity pools.
Bitcoin critic Peter Schiff said Friday’s Bitcoin price increase following the U.S. Securities and Exchange Commission’s tokenized stock announcement was illogical and bearish for the cryptocurrency.
In an X post on Saturday, Schiff argued that tokenized securities backed by profitable companies offer a superior store of value compared with Bitcoin (BTC).
Schiff described the Bitcoin rally as disconnected from the substance of the SEC announcement. He said digital ownership of tokens backed by profitable, dividend-paying companies is a more reliable store of value than a token backed by nothing.
Tokenized stocks, in his view, provide the conveniences associated with Bitcoin without the risk he associated with a decentralized structure that could collapse.
SEC’s announcement and Bitcoin surge
On September 17, the SEC announced a five-year conditional innovation exemption for qualifying blockchain-based trading venues. The order allows Tokenized Securities Venues to facilitate trading in certain National Market System stocks under specified conditions.
It provides relief from certain Exchange Act exchange and dealer requirements and permits the use of permissioned automated market makers and liquidity pools. The exemption is temporary and conditional rather than a permanent regulatory framework.
Bitcoin witnessed a notable surge after the announcement and crossed the $80,000 mark on Friday. At the time of this writing (on September 19 at 2:00 pm UTC), the asset traded at $81,290.43 on Saturday, September 19, 2026, according to CoinGecko data, up 1.6 percent over the prior 24 hours.
Bitcoin’s 24-hour range was $79,925.66 to $81,674.72. Its seven-day range was $75,038.12 to $81,674.72. Market capitalization was listed at $1.633 trillion, with 24-hour trading volume of $35.698 billion. Circulating supply totaled 20.087 million BTC against a maximum supply of 21 million. Bitcoin’s all-time high of $126,080 was recorded on October 6, 2025.
Comment on SEC’s announcement
Alex Thorn, head of firmwide research at Galaxy, stated that the order includes specific requirements. According to Thorn, a tokenized venue must verify that the token provides holders the same rights and privileges as traditional NMS stock of an equivalent class.
For third-party wrappers, the order requires distribution or availability of related proxy materials and other issuer communications at no cost to the issuer or shareholders. Dividends, voting rights and proxy distribution are required under the text of the order, Thorn said.
Schiff’s criticism draws reactions on X
Comments posted on the platform X addressed Schiff’s remarks, rejecting his theory. An X user, LinDawg, stated that Schiff does not have the mental capacity to understand the real value of Bitcoin and described him as a traditionalist unable to adapt to digital assets.
Another user, Mr. Plenty wrote that the current price level presents a good opportunity to short. The 20 Delta Guy said Bitcoin could move substantially higher and that Schiff has issued repeated warnings of declines that have not occurred, adding that he should move on.
Rabbi Nakamoto stated that Schiff is emotionally opposed to Bitcoin and that no amount of logical explanation would alter that position, wishing him a nice weekend.
Also Read: Crypto’s Regulatory Relief Rally: Bitcoin Price Jumps Over 5% as Altcoins Follow
