Peter Schiff "Bitcoin is Over"...'Great Escape' Warning Amid Gold and Silver Surge

▲ Gold, Silver, Bitcoin (BTC)/ChatGPT generated image

Gold and silver, traditional safe-haven assets, are outperforming Bitcoin (BTC), signaling a major shift in investment capital.

According to crypto media outlet Benzinga on April 14 (local time), Peter Schiff, Chairman of Euro Pacific Capital, strongly advised investors to sell Bitcoin and buy physical gold and silver. Schiff diagnosed that Bitcoin's price momentum has already been exhausted and market interest is returning to traditional stores of value. He urged investors to make quick decisions, stating that the hypothesis of Bitcoin being "digital gold" has completely failed.

Schiff presented the widening gap in returns between Bitcoin and precious metals since 2026 as a key piece of evidence. Unlike Bitcoin's price, which has fallen by approximately 27% this year, gold has surged by 21.5% and silver by 30%, reaching historic highs. Recently, gold prices soared to $5,278 and silver to $93.66, emerging as the protagonists in the asset market.

The shift from inflows to outflows in Bitcoin exchange-traded funds was also cited as a negative signal. Schiff pointed out that the average purchase price of Bitcoin held by Strategy, a major market buyer, is close to $75,000, indicating very low profitability. He warned that if institutional investor demand decreases and sell-offs begin to flood the market, Bitcoin's price could plummet below $50,000.

The macroeconomic environment is also favorable to the precious metals market. Analysts suggest that investors are flocking to gold and silver in anticipation of a decline in the dollar's value amidst the US's massive debt and persistent inflationary pressures. Schiff explained that as US fiscal policy fails and the Federal Reserve loses credibility, the importance of physical assets is being highlighted more than ever.

Schiff likened Bitcoin to the tulip mania, the largest speculative bubble in history, predicting a disastrous end. He advised investors to escape while prices are still holding and reconfigure their portfolios with proven precious metals. He emphasized that in a crisis situation where the traditional financial order collapses, gold and silver, proven by history, are the only means to preserve assets, rather than intangible virtual assets.

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