Peter Schiff attacked a Trump-owned company, $DJT, on Thursday, claiming it has little value but is connected to the President. According to Schiff, $DJT constantly invents many things, reflecting that it has no true underlying value.
Trump Media and Technology Group Corp (TMTG) was founded by Andy Litinsky and Wes Moss in 2021. On March 26, 2024, TMTG came to the market as a result of a merger with the special-purpose acquisition company (SPAC) Digital World Acquisition Corp. (DWAC).
The union company was worth $8 billion and began trading under the symbol $DJT.
Peter Schiff denounces the financial pivot’s motive
DJT began as a social media startup but shifted and became a BTC treasury.
Peter Schiff believes that in the case of $DJT, the transformation of a failed social media platform into a self-assured Bitcoin strategy and a currently merging partner with Fusion Energy proves that the product has never been about the financial underpinnings, but rather about access to political power.
In July, $DJT announced that it had amassed approximately $2 billion in bitcoin and assets to track bitcoin as a part of its previously announced bitcoin treasury plan. As reported by Trump Media, the company suffered a net loss of $54.8 million in the third quarter of 2025, compared to a $19.3 million loss in the same quarter of 2024, due to an increase in expenses, of which $20.3 million was attributed to legal fees.
The third-quarter report showed that revenue fell to $972,900, compared to nearly $1 million in the previous quarter. The stock dropped 61 percent over the year to a share price of $13.10. As of September 30, the company had gained on Bitcoin options worth $15.3 million and owned 11,542 Bitcoins, worth nearly $1.3 billion, which is equivalent to approximately $1.3 billion.
Schiff disputes Trump’s claims of a “booming economy.”
Peter Schiff warned that U.S. output is “going bust.” He criticized Trump for claiming that the economy was “booming.” Schiff contested the claim.
The S&P 500 has increased by 16% so far this year, while the tech-heavy Nasdaq has risen by 20%. Schiff stated that the stock market has, in fact, had a great run.
Schiff’s concerns about inflation and job losses reflect fundamental economic factors.
The U.S. consumer price index rose by 3.0% yearly in September compared to 2.3% in April, when Trump first announced his broad tariffs. In the first 10 months of 2025, companies reported 1,099,500 job cuts, according to a poll. Meanwhile, the news is still dominated by layoff announcements.
In reference to the boom of Trump, Schiff called it a fiction and listed the reasons that the economy was going down, including the fact that deficits were exploding.
The fiscal year 2025 government expenditure in the U.S. totaled $7.01 trillion, and the government received $5.23 trillion. The 5.23 million led to a deficit of 1.78 trillion. The imbalance has led to the rise in the U.S national debt.
The National debt is currently close to $38 5 trillion. According to Schiff, the tract is “completely unsustainable.” He insisted that America’s creditors are getting the same information, which is detrimental to both the dollar and the Americans who hold it.
Schiff claimed that foreign creditors of the US are aware that the national debt has reached close to $38.5 trillion. He further claimed that the foreign investors are selling their U.S. dollars and Treasury bonds for this reason. Schiff mentioned that foreign central banks are selling Treasury bonds and purchasing gold instead.
Schiff claimed that the dollar’s position as the world’s reserve currency is about to expire, which will significantly lower living standards in the United States.
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Source: https://www.cryptopolitan.com/schiff-slams-djt-as-brand-play/
