Peter Schiff, the CEO of Euro Pacific Asset Management and a longtime bitcoin critic, said bitcoin has become "anti-gold" and predicted its recent slide will continue. He argues that war-driven inflation fears are sending gold and silver higher while bitcoin falls, which he says proves the cryptocurrency never behaved like digital gold.
The 'anti-gold' argument
Schiff's point is simple: if bitcoin were truly digital gold, it would rise alongside bullion when investors get nervous about war and inflation. Instead, it's sliding. That, he says, is evidence that the "digital gold" narrative was always wrong.
In his view, the current market is a stress test. Gold and silver are doing what they're supposed to do in times of geopolitical tension — rallying. Bitcoin, meanwhile, is doing the opposite. For Schiff, that divergence is the clearest sign yet that bitcoin is not a safe haven.
A familiar critic
Schiff has never been shy about his skepticism toward bitcoin. As CEO of Euro Pacific Asset Management, he has built a career advocating for gold and warning investors away from cryptocurrencies. His latest comments are consistent with that stance, but they come at a moment when the market is paying close attention.
The timing is notable. With war-driven inflation fears dominating headlines, investors are looking for assets that hold their value. Schiff's argument is that gold and silver are passing that test, while bitcoin is failing it.
What the price action shows
Schiff points to the recent performance of gold and silver versus bitcoin as proof. While he didn't provide specific numbers, he said the trend is clear: bullion is up, bitcoin is down. That, he argues, is exactly what you'd expect from an asset that has no intrinsic value and no real use as a hedge.
For bitcoin supporters, this is familiar territory. Schiff has been predicting bitcoin's demise for years, and so far the asset has survived. But his latest claim — that bitcoin has become "anti-gold" — is a sharper twist on the usual critique. It's not just that bitcoin isn't digital gold; it's that bitcoin is now moving in the opposite direction of gold.
Whether that trend continues is an open question. Schiff says it will, and he's betting on it. The next few weeks, as war-driven inflation fears play out, will test his thesis.
