Peter Schiff: Bitcoin in Stealth Bear Market Against Gold

Peter Schiff, a well-known financial expert, has sparked debate by arguing that Bitcoin (BTC) has been in a bear market for years when measured against gold. While most assess Bitcoin in terms of dollars, Schiff compares it to gold, revealing a 24% decline since 2021.

In 2021, at Bitcoin's peak, one BTC could purchase 36.3 ounces of gold, but today, it's worth 27.7 ounces. Schiff asserts that gold's enduring value over thousands of years makes it the "apex predator" of financial assets, unlike Bitcoin, which is just over a decade old.

Directing his comments to Michael Saylor, a prominent Bitcoin advocate, Schiff emphasizes history's role in proving which assets endure. While Bitcoin supporters see it as a hedge against inflation and a financial revolution, Schiff remains skeptical, viewing Bitcoin as a risky asset akin to tech stocks.

This debate highlights the divided opinions on Bitcoin's long-term value, contrasting it with gold's proven track record. Schiff's perspective underscores the ongoing discussion about the role of traditional versus digital assets in the financial landscape.