Peter Schiff Dismisses Bitcoin as Global Reserve

Peter Schiff criticizes Bitcoin’s potential to become a global reserve currency. In a recent statement, Schiff asserted that Bitcoin’s decline, while gold surged, reflected its instability and unsuitability for this role.

Economist Schiff noted gold’s historical strength compared to Bitcoin’s performance in 2025. He warned investors about Bitcoin’s volatility, advising them to sell while prices remained above $87,000, contrasting with gold’s consistent value. He famously said,

“If something doesn’t go up when everybody thinks it’s going to go up, that’s a pretty good indication that it’s going to go down.”

The announcement immediately impacted investors’ sentiment towards Bitcoin. Investors began reassessing their digital asset portfolio, weighing Bitcoin’s volatility against gold’s stability. Market reactions highlighted the debate around Bitcoin’s reserve currency prospects.

Schiff’s statement influenced financial discussions and market dynamics, reinforcing the precious metal’s appeal over Bitcoin among traditional investors. It also emphasized Bitcoin’s challenges amid ongoing economic shifts, such as debt concerns and ETF outflows.

Michael Saylor, another key figure, remained steadfast in Bitcoin’s potential, amidst concerns raised by Schiff. The clash between Schiff’s bearish stance and Saylor’s bullish outlook adds depth to the ongoing debate.

Schiff’s critique could hold deeper implications for Bitcoin’s regulatory status. The potential for increased scrutiny by financial regulators arises if Bitcoin continues its volatile trajectory. Investors and policymakers alike continue to monitor these trends.