Peter Schiff, the veteran economist and gold advocate, has warned that a severe financial crisis could unfold in the US this year—potentially exceeding the scale of the 2008 meltdown.

His thesis centers on structural vulnerabilities: mounting government debt, persistent inflation pressures despite rate hikes, and an overextended credit system. While his track record on timing predictions is mixed, such warnings shouldn't be dismissed outright, especially given the interconnected nature of modern markets.

For crypto investors, this narrative carries weight. During 2008-2009, traditional markets contracted sharply while alternative assets faced liquidity crunches. Today's environment is different—Bitcoin and major altcoins have matured as portfolio hedges. A macro downturn could trigger liquidations in overleveraged positions, but it might also accelerate institutional adoption of digital assets as a diversification play.

The real question isn't whether a correction arrives, but when and how severely. Positioning accordingly—whether through stablecoin reserves or selective accumulation—remains prudent risk management in uncertain times.