Peter Schiff Celebrates as Gold Rises and Bitcoin Struggles
On October 16, famous gold supporter Peter Schiff posted on social media:
“Gold is eating Bitcoin’s lunch. Bitcoin has dropped 32% against gold since August. This Bitcoin bear market will be brutal. Sell your fake gold and buy the real thing—or go bankrupt.”
His comment came as gold reached a record high of $4,318 per ounce, boosted by tensions between the U.S. and China, expectations of Federal Reserve rate cuts, and strong buying from central banks.
According to Schiff, the world is not only moving away from the U.S. dollar (“de-dollarization”) but also from Bitcoin (“de-bitcoinization”). He believes Bitcoin has failed as both a digital version of gold and as an alternative to the dollar.
He pointed out that gold has jumped 64% since January, while Bitcoin has only risen 16% in the same period.
Gold vs. Bitcoin: The Safe-Haven Battle
Not everyone agrees with Schiff. Many crypto supporters replied to his post with counterarguments.
User @BTCPeakHub reminded everyone that despite its ups and downs, Bitcoin still hit $126,198 in early October, saying:
“It’s not a failure—it’s just Bitcoin being Bitcoin.”
Others mentioned long-term returns. Investor Alex Stanczyk said he bought gold at $650 in 2007 and made a 521% profit—but if he had bought Bitcoin instead, the return would have been over 174 million percent. Even in the last five years, Bitcoin’s gain was about 1,003%.
Stanczyk believes gold and Bitcoin can complement each other—gold as a traditional safe haven, and Bitcoin as a modern, tech-driven investment.
Two Different Assets, One Debate
The key difference is that gold has centuries of trust and stability behind it, especially in times of market fear and low interest rates.
Meanwhile, Bitcoin is a newer, more volatile asset that represents innovation and digital freedom, attracting younger investors.
Peter Schiff’s ongoing criticism of Bitcoin often sparks heated debates—and ironically, Bitcoin has often bounced back strongly after his predictions of its downfall.
Gold vs. Bitcoin: 5 Key Takeaways
- Gold hit an all-time high of $4,318/oz in October 2025.
- Bitcoin has dropped 32% compared to gold since August.
- Since January, gold rose 64%, while Bitcoin grew 16%.
- Some investors argue Bitcoin’s long-term returns still crush gold’s.
- The safe-haven debate continues—gold for stability, Bitcoin for growth potential.
