Peter Schiff claims that Bitcoin has not outperformed gold since 2021.

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about 4 hours ago

Schiff’s Gold‑Based Critique

Schiff says Bitcoin has lost over 66% of its value when measured in gold since its November 2021 peak. One Bitcoin fell from buying about 34.5 oz of gold to only 12 oz today, a 64% drop. A $10,000 Bitcoin buy then would be roughly $9,100 now, while the same gold investment would exceed $27,000.

Safe‑Haven Debate

Critics note Bitcoin behaves more like a volatile tech stock than a safe‑haven, prompting investors to favor actual gold in risk‑off periods. CNBC’s Ran Neuner argues the store‑of‑value case for Bitcoin is now under serious scrutiny. This undermines the long‑standing “digital gold” narrative.

Supporters’ Cycle View

Proponents point to Bitcoin’s 320% rally from its $15,000 low in late 2023, outpacing gold’s 150% gain, and call the dip a normal cycle correction. They argue Bitcoin’s volatility is inherent to its boom‑and‑bust pattern driven by halvings and sentiment. Schiff, however, remains unconvinced.