Bitcoin Critic Peter Schiff Warns Michael Saylor That Gold Will Outlast BTC

Financial expert and long-time Bitcoin critic Peter Schiff has once again voiced his skepticism about the long-term viability of Bitcoin (BTC). In a recent post, Schiff directed his remarks at Bitcoin advocate Michael Saylor, the executive chairman of MicroStrategy. He argued that Bitcoin has been losing value when measured against gold, an asset he believes will outlast digital currencies.

Peter Schiff Warns Michael Saylor: “Gold Will Eat Bitcoin”

In a recent post on the X platform, Bitcoin critic Peter Schiff tagged MicroStrategy CEO Michael Saylor, emphasizing that Bitcoin has been in a bear market for years when measured against gold. Schiff stated that Bitcoin’s value against gold has dropped by 24% since 2021, declining from 36.3 ounces per BTC to 27.7 ounces per BTC.

Schiff pointed out that many investors fail to see Bitcoin’s real depreciation because they assess it in U.S. dollars rather than gold. He argued that Bitcoin’s declining purchasing power in terms of gold indicates a long-term downtrend, despite periodic price rallies.

More so, the Bitcoin critic added,

“Gold is the Apex predator that will eat Bitcoin.”

More so, Peter Schiff recently criticized Michael Saylor’s Bitcoin strategy, arguing that MicroStrategy’s aggressive BTC acquisitions expose the company to severe financial risks. He pointed out that the firm’s 55% stock decline and increasing debt levels could push it toward bankruptcy if Bitcoin price continues to drop.

Bitcoin in a Stealth Bear Market, Schiff Claims

According to Peter Schiff, Bitcoin has been in a prolonged stealth bear market when analyzed against gold instead of fiat currencies. He asserted that while Bitcoin price in USD has experienced fluctuations, its value relative to gold has steadily decreased.

Schiff maintains that Bitcoin’s volatility and speculative nature make it unreliable as a store of value. He insists that gold has maintained purchasing power for thousands of years, whereas Bitcoin’s long-term sustainability remains uncertain.

Addressing Michael Saylor, Schiff emphasized that history favors gold over digital assets. He argued that while Bitcoin supporters claim it is “digital gold,” it lacks intrinsic value and remains susceptible to market speculation.

However, while Peter Schiff continues to dismiss Bitcoin as an inferior asset, its supporters maintain that it is a revolutionary financial tool. A recent report highlights that 95% of U.S. spot Bitcoin ETF investors continue to hold their positions despite Bitcoin 25% price drop in 2025. Bloomberg data further reveals that while ETF inflows have declined to $35 billion institutional players, including Goldman Sachs, maintain exposure to Bitcoin ETFs.

Meanwhile, despite the criticism, MicroStrategy remains committed to its Bitcoin acquisition strategy, announcing plans to raise $21 billion through a preferred stock offering. The company stated that the funds would be used for Bitcoin purchases and corporate expenses.