While the crypto market is busy watching Bitcoin struggle to get back above $70,000, Bitcoin critic Peter Schiff is talking about silver.
In his recent X-post, Schiff urges investors to stop focusing solely on Bitcoin and pay attention to what’s happening in the silver market.
According to him, this is not just his usual criticism of crypto. He believes silver is entering an important phase as demand rises while supply is tight in 2026.
In this environment, he argues that assets like Bitcoin may not be as strong as people think, while silver could benefit more.
Schiff said,
I already tell people to buy silver because it costs less than $5. Ultimately, $120 purchases will also come first.
Crypto community denounces Schiff
However, the crypto community quickly retreated, with one X user noting that Bitcoin [BTC] is down 45% from its peak, almost identical to silver’s 44% decline from its own highs.
The user argued,
Why has your scarce possession diminished as much as something you continually say has no value? Isn’t that strange to you? Especially since silver’s decline happened faster?
Additionally, other critics point out that the metals market has lost approximately $1.1 trillion in the past 60 days, far more than what crypto has seen recently.
Gold is down about 2%, wiping out $750 billion in value, while silver is down 7%, losing another $370 billion.
As a Bitcoin supporter, this was a strong counterpoint as a user argues that even traditional assets like gold and silver are not as stable as many think.
THE CRASH HAS BEGUN. This is what I called. A total extermination. However, I expect a rise in bitcoin……
Some even directed hate comments at Schiff, as highlighted by an X user who said,
Silver has been dead for DECADES. It’s one of those assets that spikes hard and then crashes, this has happened several times.
The above user further added:
I’m not saying you shouldn’t buy silver, but this guy is the biggest bitcoin hater around.
Bitcoin vs Silver
Well, the gap between Bitcoin and silver becomes even more apparent when you look at the Bitcoin to Silver ratio (BTC/XAG). At the time of writing, while Bitcoin baptized down slightly by 2.7% to around $68,800, silver fell sharply more difficultdown 4.5% to around $68.
In fact, Bitcoin has clearly outperformed silver over the past month, with the ratio increasing by more than 25%. Simply put, one Bitcoin can now buy more than 1,000 ounces of silver, compared to about 700 to 800 ounces just a few weeks ago.
While silver is still the third largest asset in the world by market value, its recent performance appears weak next to Bitcoin.
Moreover, even during periods of war, Bitcoin has shown resilience and has held up better than many traditional assets.
This trend suggests that many investors are starting to view Bitcoin not just as a risky bet, but as a stronger option during uncertain market conditions.
Schiff’s confusing comments
Interestingly, even though Schiff has always criticized Bitcoin, he has recently considered using blockchain to back gold.
During his debate with Binance founder CZ in December, he introduced a tokenized gold product (T-Gold). This shows that while he may not trust Bitcoin as an asset, he does believe in the technology behind it.
All in all, Schiff still believes that gold is the real value, and that blockchain only adds to that.
Final summary
- The strong response from the crypto community highlights how divided sentiment remains between traditional assets and Bitcoin.
- Silver’s sharper decline compared to Bitcoin raises questions about its resilience under pressure.