On Sunday, Peter Schiff, a well-known critic of Bitcoin (CRYPTO: BTC), highlighted the disparity between gold’s record high prices and Bitcoin’s current valuation.
Why Is Bitcoin Even ‘Digital Gold’
Schiff questioned why Bitcoin, often dubbed “digital gold,” remains over 13% below its peak from November 2021. He also pointed out the extensive hype, governmental backing, and corporate investments in Bitcoin, yet it still lags behind its previous highs when measured against gold. Schiff’s comments come as gold prices soar, setting new records.
Schiff On Bitcoin’s Store of Value Capability
Schiff’s remarks were made on the social media platform X, where he frequently shares his views on economic matters. One of his latest posts drew attention to the contrasting trajectories of gold and Bitcoin, questioning the latter’s status as a reliable store of value.
Schiff’s observations are significant as they come amidst ongoing debates about Bitcoin’s role in the financial system. Despite Bitcoin’s substantial growth, Schiff has consistently voiced skepticism about its long-term viability. Recently, he predicted Bitcoin’s potential decline to $75,000, advising investors to sell and repurchase at lower prices.
Schiff’s perspective on Bitcoin’s underperformance compared to traditional assets like gold and stocks is further elaborated in a Benzinga article, where he warns that the cryptocurrency’s “bubble” is losing momentum.
Slammed Exit From Gold Standard
Moreover, Schiff has been vocal about the U.S. economic situation, linking current fiscal challenges to historical decisions like the 1971 gold standard exit. In another Benzinga report, he criticized the mounting national debt and its implications for the economy.
At the time of writing, Spot gold was seen trading 0.22% lower at $3,439.32. The precious metal has risen 4.56% over a month and has soared 31.1% over a year-to-date basis. Benzinga Pro data indicates, Bitcoin fell 0.9% to $108,217.42 over 24 hours. Over 30 days, it has declined 4.9%, and on a year-to-date basis, it has gained 15.9%.
Notably, Bitcoin touched an all-time high of $124,457.12 on Aug. 14, 2025, and is currently trading 13% below those levels, as mentioned by Schiff.
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Photo Courtesy: Jade ThaiCatwalk on Shutterstock.com
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
