Popular Bitcoin critic and pro-gold advocate, Peter Schiff, has stirred discussions across the crypto market again after restating his long-time stance about gold being a better investment decision than Bitcoin.
In his latest assertion, Peter Schiff sang praises of gold and other precious metals, with claims that they are exploding, as silver and gold have recently hit new highs.
As usual, Schiff did not end the post without throwing jabs at Bitcoin and its holders. However, what makes it interesting this time is that the critic indirectly acknowledged Bitcoin’s short-term strength after he admitted that the world’s leading cryptocurrency is not crashing yet.
Schiff compares Bitcoin to gold and silver again
After pointing out the growing performance seen in silver and gold, Schiff did not hesitate to mention that Bitcoin has once again underperformed.
Schiff emphasized that while Bitcoin is not experiencing a notable collapse, it is failing to deliver the gains many long-term holders expect.
According to Schiff, the real issue for Bitcoin investors isn’t the absence of a major crash in Bitcoin’s price, but the opportunity they lose by holding BTC while other assets rally.
While Bitcoin has continued to show mixed price action, hovering around $90,000, Schiff framed Bitcoin’s recent price movement as stagnant, comparing it against what he sees as strong momentum across metals and mining equities.
While it is very common for Peter Schiff to raise such debates about Bitcoin, the crypto community is not having it, and Bitcoin supporters have continued to argue that short-term price movements don’t undermine Bitcoin’s long-term prospects.
Holders back their support with Bitcoin’s fixed supply, global liquidity, and history of sharp recoveries as reasons for patience, even during periods when other asset classes like gold outperform.
Caroline Amosun
Dan Burgin
Alex Dovbnya