In a current X put up, the outspoken gold advocate and long-time Bitcoin critic argued that gold’s worth stems from its historic position as a tangible retailer of wealth, whereas Bitcoin stays speculative, risky, and devoid of intrinsic worth. Based on Schiff, “shopping for Bitcoin is actually a guess in opposition to gold.”
He additional emphasised that Bitcoin is neither a dependable retailer of worth nor a contemporary preservation device for wealth, however relatively a dangerous speculative gamble positioned in opposition to gold itself.
Bitcoin holders lastly agree with Schiff
In a uncommon second of alignment, a lot of the crypto neighborhood appeared to agree with Schiff’s remarks—although for various causes. Many traders considered his assertion as an unintended praise, deciphering Bitcoin as a step past gold relatively than a digital model of it.
Some commentators highlighted that Bitcoin has advanced past the constraints of conventional property, recalling previous moments when economists dismissed the cryptocurrency.
Bitcoin was offered to traders as digital gold. Not solely does Bitcoin don’t have anything in widespread with gold as a commodity, but it surely’s really inversely correlated with gold. Reasonably than being a digital proxy for gold, it is digital anti-gold. It is turn out to be one other strategy to guess in opposition to gold.
— Peter Schiff (@PeterSchiff) October 27, 2025
One consumer referenced a 2014 Chinese language finance program the place an economist rejected 100 BTC on air as “nugatory,” a sum now valued within the hundreds of thousands, suggesting Schiff would possibly someday reverse his stance.
Bitcoin is larger than digital gold
Supporters argued that Bitcoin mustn’t behave like gold, as each property serve completely different functions. Gold preserves present wealth, whereas Bitcoin creates new alternatives for development within the digital economic system.
One commentator recalled how, in 2014, a Chinese language economist famously rejected a proposal of 100 BTC on stay tv, calling it nugatory — an quantity now value hundreds of thousands. Many prompt Schiff may someday face an analogous realization.
The broader sentiment echoed that Bitcoin isn’t “digital gold” in any respect — it’s one thing better.
