Prominent gold advocate and long-time Bitcoin critic Peter Schiff has given a serious remark about Bitcoin in one in every of his current statements.
He declared that Bitcoin is in a “major bear market,” pointing to its efficiency in opposition to gold since its November 2021 peak.
Peter Schiff Says Bitcoin Lost 30% Value Priced in Gold
In a current tweet, Schiff highlighted that regardless of a number of developments that ought to have been optimistic for Bitcoin’s worth, the cryptocurrency has misplaced important worth when measured in opposition to gold.
“Since its peak price in November of 2021, despite all the ETFs, massive leveraged buying by $MSTR, the election of the first Bitcoin president, and the creation of a Bitcoin Strategic Reserve, Bitcoin has lost 30% of its value priced in gold,” Schiff said.
Since its peak worth in November of 2021, regardless of all of the ETFs, huge leveraged shopping for by $MSTR, the election of the primary Bitcoin president, and the creation of a Bitcoin Strategic Reserve, Bitcoin has misplaced 30% of its worth priced in gold. Bitcoin is in a serious bear market.
— Peter Schiff (@PeterSchiff) April 11, 2025
Schiff’s feedback come as Strategy’s current Bitcoin acquisitions have fallen into the crimson. Saylor had also raised $722 million in March to speed up his Bitcoin wager.
According to knowledge from Saylortracker, the corporate’s purchases made on March 31, March 24, February 24, and February 10, 2025, are all at the moment exhibiting losses starting from 2.2% to fifteen.44%. Only their March 17 buy of 130 BTC reveals a modest 0.43% acquire.
Schiff’s critique facilities on difficult the favored “digital gold” narrative that has been used to advertise Bitcoin as a retailer of worth just like bodily gold. According to Schiff, Bitcoin’s underperformance in opposition to gold over the previous a number of years contradicts this positioning.
In an earlier tweet, Schiff instantly attacked this comparability: “Bitcoin is crashing harder than stocks, yet people still call it ‘digital gold.’ But if it were truly digital gold, wouldn’t it act more like gold?” He additional characterised Bitcoin as behaving like a high-risk asset, similar to penny shares, fairly than a secure retailer of worth.
The gold advocate’s argument is strengthened by knowledge exhibiting MicroStrategy’s current Bitcoin purchases are actually underwater. Their largest current acquisition of twenty-two,048 BTC at a median worth of $86,969 on March 31, 2025, has misplaced over $97 million in worth, representing a 5.08% decline. Similarly, their February 24 buy of 20,356 BTC at $97,514 is down 15.44%, leading to a loss exceeding $307 million.
Schiff questions the rationale behind together with such a unstable asset in strategic reserves, stating that this narrative “is crumbling fast” as Bitcoin fails to display the soundness anticipated from a gold-like asset.
Strategy’s Recent Bitcoin Purchases Show Significant Losses
This was not the primary time Peter Schiff criticized Strategy. Earlier in March, Schiff criticized Strategy’s Bitcoin strategy amidst the Bitcoin crash.
Strategy led by Bitcoin advocate Michael Saylor has continued its aggressive Bitcoin accumulation technique all through 2025. However, current purchases are actually exhibiting detrimental returns.
According to the figures, Strategy’s largest current Bitcoin buy occurred on March 31, 2025, when the corporate acquired 22,048 BTC at a median worth of $86,969 per coin. This was a complete funding of $1.92 billion. At present costs, this funding has declined in worth by $97,469,326.40, or 5.08%.
The firm’s February purchases have fared even worse. The February 24 acquisition of 20,356 BTC at $97,514 per coin has misplaced 15.44% of its worth, translating to a paper lack of $307,333,345.80. Similarly, the February 10 buy of seven,633 BTC at $97,255 is down 15.01%, or $111,441,335.65.
These losses come regardless of the varied optimistic developments for Bitcoin that Schiff referenced. This consists of ETF approvals and institutional adoption.
Schiff Questions Bitcoin’s Role In Investment Portfolios
Peter Schiff has expanded his criticism past Bitcoin’s price efficiency to query its basic position as an funding asset. In one other tweet, he posed a sequence of rhetorical questions on Bitcoin’s utility and classification: “If Bitcoin is an asset that people only buy when the stock market is going up and risk appetite is high, what is it that investors are buying?”
If Bitcoin is an asset that individuals solely purchase when the inventory market goes up and threat urge for food is excessive, what’s it that traders are shopping for? It’s not a inventory as it’s going to by no means have earnings or pay a dividend. It’s clearly not a risk-off asset, a retailer of worth, or digital gold.
— Peter Schiff (@PeterSchiff) March 28, 2025
Schiff then systematically dominated out a number of potential classifications for Bitcoin. “It’s not a stock as it will never have earnings or pay a dividend,” he said. He distinguished it from conventional fairness investments that present possession in productive corporations.
More pointedly, he rejected the shop of worth thesis that Bitcoin proponents usually advance: “It’s clearly not a risk-off asset, a store of value, or digital gold.”
Vignesh Karunanidhi
Vignesh Karunanidhi is a seasoned crypto journalist with practically 7 years of expertise within the cryptocurrency business. He has contributed to quite a few publications, together with WatcherGuru, BeInCrypto, Milkroad, and authored over 10,000 articles
Disclaimer: The introduced content material might embody the non-public opinion of the writer and is topic to market situation. Do your market analysis earlier than investing in cryptocurrencies. The writer or the publication doesn’t maintain any duty to your private monetary loss.
