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Peter Schiff said Bitcoin approached the “Bear Market” when it is at the price of gold, an assertion that caused a fierce response to crypto supporters on X.
“Gold price, since it reached a summit of approximately 37.2 ounces on August 12, Bitcoin is down 18%, just 2% above the official territory of the bear market,” wrote Schiff on X, highlighting the recent record of Gold above $ 3,600 per ounce.
Schiff, a legendary investor with more than 1.1 million followers on X, added that by looking at Bitcoin at the price of gold, the main crypto is “currently almost 16% below its summit in November 2021”.
“How square this lamentable performance with all the media threshing?” He asked Crypto investors
X Users remind Schiff that he said Bitcoin would be expensive at $ 750
They quickly retaliated.
“If I look at a 5 -year table, gold is up around 85%,” said Rich Eddy (@Riheddydy). “Bitcoin is up 975% during the same period. What is this” lamentable performance “to which you reference yourself?”
“Gold is yesterday’s cover,” said user Adam Weill. “Bitcoin is the system of tomorrow. Short -term volatility does not exchange generational change. ”
Schiff replied: “Bitcoin is down 16% over four years. Does this count as in the short term? ”
Another X user common A screenshot of an X Post Schiff made in November 2018, when Schiff said that investors should not “make the mistake of thinking that the purchase of Bitcoin below $ 3,800 is a good deal”.
He also predicted at the time that the BTC could easily drop another 80%, adding that Bitcoin would be “still expensive” to $ 750.
– Frog4233.eth (@ frog4233) September 6, 2025
The debate reflects broader tensions on the role of Bitcoin as a reserve of value. Although gold has long been an essential coverage during economic uncertainty, some investors consider Bitcoin as a modern alternative, which has delivered excessive gains in recent years despite short -term volatility.
It is like the largest crypto by flat market capitalization at around $ 110,000 while the price of the goods continues to soar.
Coinmarketcap data show that BTC has seen its price drop by a fraction of a percentage in the last 24 hours and increased by more than 1% in last week to exchange $ 110,679.97 to 1 h 57.
Bitcoin Price That (Source: Coinmarketcap))
The price of gold rises to a new summit of all time
Schiff’s message occurs while Gold’s price continues to climb.
Friday, the goods climbed to more than $ 3,600 per ounce, according to data from Tradingview. It was a new summit of all time for the goods.
Gard Gard Prix (Source: TradingView)
This follows more than 8% Gold in the past two months, and more than 36% in the past year.
Meanwhile, BTC dropped by around 5% in the last month, but increased by more than 104% over the annual time in the longer term.
Bitcoin also reached a new ATH of $ 124,457.12 on August 14. He has since fallen more than 11% to exchange at his current level.
Schiff disputes if the BTC is “digital gold”
Schiff actively questioned the growing reputation of BTC as a “digital gold” type. In May, he noted that central banks buy gold and not bitcoin.
In June, he said that Gold’s price had increased while BTC value fell during the Israeli-Iranian conflict, and in July rejected Bitcoin as viable coverage against the instability of the US dollar.
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