Gold vs Bitcoin – Peter Schiff Declares BTC Has Failed as Digital Gold, CZ Reacts

The debate on gold versus Bitcoin (BTC) has been renewed by Peter Schiff. He believed that Bitcoin cannot be regarded as digital gold yet and is not a valid alternative to the U.S. dollar. His remarks follow Bitcoin’s recent underperformance against gold, which he described as a “de-bitcoinization” phase.

Schiff Renews Gold Defense as CZ Highlights Bitcoin’s Long-Term Gains

According to Schiff, Bitcoin’s 32% decline since August when priced in gold signals that investors are losing faith in the asset’s long-term value. He called the current market phase a brutal bear cycle for Bitcoin holders.

Gold is eating Bitcoin’s lunch. Bitcoin is now down 32% priced in gold since its August high. This Bitcoin bear market will be brutal. HODLers, sell your fool’s gold now and buy the real thing, or have fun going broke.

— Peter Schiff (@PeterSchiff) October 16, 2025

Hence, Schiff urged them to sell their “fool’s gold” and move into real gold instead. Schiff added that Bitcoin’s failure to serve as a reliable store of value proves that gold remains the ultimate hedge against monetary instability. Recently, Schiff also warned that Bitcoin could be “rugged by gold,” reiterating his stance on gold’s superiority.

Binance founder Changpeng “CZ” Zhao, however, countered Schiff’s view, calling it “Peter revenge.” CZ noted that while Schiff may be correct in the short term, such moments represent only “about 1%” of Bitcoin’s 16-year history.

He said that Bitcoin’s performance over that period shows the biggest contrast with gold. It started at $0.004 and has since reached $110,000. CZ added that although gold might outperform Bitcoin in the short term, its edge is temporary. He said Bitcoin’s growing adoption and limited supply continue to support its value over the long-term.

Analyst Flags 200-Day MA as Key Support

Analyzing through a technical perspective, crypto market analyst Ted Pillows said Bitcoin’s immediate price action hinges on its 200-day moving average (MA) around $107,000. He warned that a daily close below that level could push BTC toward $100,000 or even lower, potentially to the $95,000–$90,000 range.

Ted explained that the 200-day MA does not always indicate a panic-selling point. Rather, it tends to serve as a powerful zone where long-term investors accumulate more of the coin.

According to his analysis, short-term pressure might be present, but the region around $100,000 will attract buying interest from investors whether institution or retail. The institutional confidence is exemplified by the recent BTC purchase by Michael Saylor-led Strategy.

Meanwhile, there is an increasing apprehension on the market. According to Polymarket data, traders have assigned a 43% chance that Bitcoin price would hit $130,000 in 2025, a drop of 21% from recent highs.

The decrease suggests that there is a reducing confidence in BTC recovery in the short term. However, the bias is not close to collapsing. On TradingView, Bitcoin trades near $108,392, down 2.18% in 24 hours and 12.18% for the week.