As the crypto market focuses on recovering from recent price swings, one of its strongest critics is using the moment to defend traditional assets.
On February 11, veteran investor Peter Schiff reignited the long-running “Gold vs. Bitcoin” debate by criticizing Bitcoin’s recent performance.
Posted on X, Schiff be it turned out that Bitcoin had fallen below $66,000 and was now worth less than 13 ounces of gold. He also noted that Bitcoin, when measured against gold, is trading about 64% below its November 2021 peak.
Schiff added,
“People who sold gold to buy Bitcoin made a big mistake. The longer they wait to correct it, the more expensive it becomes.”
Schiff’s comments provoked criticism
Schiff’s comments came at a time when the divide between traditional assets and crypto is becoming more apparent. While Bitcoin was struggle to gain strong momentum near $67,000 gold stayed relatively stable above $5,000 per ounce.
Schiff argued that this stability shows why gold remains more reliable than digital assets.
As expected, his comments sparked strong reactions online. Many crypto proponents have pushed back, defending Bitcoin and questioning Schiff’s positions, keeping the long-running debate alive once again.
For example, an X user noted,
“Bitcoin and gold serve different roles in portfolios, it’s not always a zero-sum choice.”
Well-known executives contribute to the debate
In fact, it’s not just crypto users who have joined this debate. In the past, several high-level executives have also shared their views on this issue. Jeff Walton, Chief Risk Officer and CEO of True North, for example said,
“Bitcoin is better at being gold than gold. Bitcoin is better at being Fiat than Fiat.”
He explained that money is a tool that allows us to save and spend in the future. Gold is good, but its supply can grow. Bitcoin is special because its supply is fixed and moves easily around the world.
Echoing a similar sentiment, Vijay Boyapati, a Senior Software Engineer, added:
Source: Vijay Boyapati/X
Not only this, last year Binacne CZ also predicted:
Source: CZ/X
However, the market rankings contradict his argument. According to CompaniesMarketCapGold remains the number one most valuable asset in the world. Bitcoin, which once came close to the top ten, has now fallen to around thirteenth place.
Deciphering Schiff’s Earlier Comments
This wasn’t just a message from Schiff; he has been battling Bitcoin for over a decade. Although reports suggested that his own company was exploring gold tokenization on blockchain, Schiff has continued to support only physical assets.
In several public debates in December 2025, he reiterated his position that Bitcoin has no “real value” and is a “fake asset” that will eventually crash.
Also in October, Schiff shared this view again on
He has also pointed out that Bitcoin had already fallen sharply against gold in September, bringing it close to a bear market in terms of real value.
Therefore, he believes, this poor performance does not match the excitement and hype surrounding crypto.
Final thoughts
- Schiff’s repeated warnings continue to influence conservative investors who value stability over risky returns.
- Proponents argue that Bitcoin and gold serve different roles, showing that the debate is not simply about choosing one over the other.