Gold Vs Bitcoin – Peter Schiff Predicts BTC Will Be ‘Rugged by Gold’

Paul
2 hours ago
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Peter Schiff discusses Bitcoin and gold amid ongoing crypto market decline.

Highlights

  • Peter Schiff predicts that Bitcoin price will drop when the demand for gold goes up in the world.
  • Crypto market dips 3% amid profit-taking while gold stays near $2,700.
  • The Bitcoin critic suggests rising gold price could shift funds from crypto to the precious metal.

The long-running rivalry between gold and Bitcoin has resurfaced. Economist and gold advocate Peter Schiff reignited debate over which of these two assets will dominate in the next market cycle. Schiff warned that Bitcoin and the wider crypto sector are “about to be rugged by gold.” He suggested investors could soon rotate toward traditional safe-haven assets.

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Schiff Predicts $4,000 Gold as Bitcoin Retreats From Record Highs

Schiff, known for his long-standing criticism of Bitcoin, wrote on X that Wall Street’s optimism about crypto had reached unsustainable levels. He argued that with sentiment overly bullish, digital assets may struggle to advance further.

“It’s very likely that Bitcoin and everything crypto are about to be rugged by gold,” Schiff posted. He added that if gold tops $4,000 per ounce, “Bitcoin will sell off, taking the rest of crypto with it.”

His comment came as Bitcoin briefly fell below $122,000, retracing from record highs set earlier this week. Bitcoin extended its rally, reaching an all-time-high of $126,000 as markets priced in a potential three-week U.S. government shutdown

With the exception of BNB which recorded gains, Ethereum, XRP and Solana recorded losses between 4% and 6%, according to TradingView data. The total crypto market capitalization dropped to around $2.58 trillion, signaling mild but broad profit-taking after weeks of strong gains.

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Gold’s Rise Spurs Caution as Crypto Leverage Eases

In a reply thread, tech entrepreneur Brian Shuster questioned Schiff’s logic, suggesting the inverse could be true given Bitcoin’s market capitalization and adoption trends. Schiff responded that while only a small percentage of investors are buying gold, the shift marks a growing trend compared to last year.

He emphasized that “Bitcoin or crypto plays are far more common,” but said gold’s appeal as a hedge could grow sharply if its price continues to climb. In contrast to Schiff’s warning, veteran investor Paul Tudor Jones predicted an explosive Bitcoin rally.

Gold price has been steady near $2,700 per ounce. Hence, some analysts are expecting new highs if global inflation and rate-cut expectations persist. Schiff’s forecast of $4,000 gold implies a potential 50% surge. That would likely draw the attention of large institutions and may withdraw their funds off risky assets, such as crypto.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Paul Adedoyin is a crypto journalist with 4+ years experience who provides timely news, in-depth research, and insightful content to inform and empower his audience. His works have been featured on sites such as CryptoMode, CryptoNewsFlash among others. He holds a degree in Geophysics from OAU, Nigeria. When he's not writing, he loves watching soccer and reading educative journals. He can be reached via [email protected]
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.