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Peter Schiff, known for his strong advocacy of gold and criticisms of Bitcoin 
$108,332, has analyzed recent developments in the cryptocurrency market. He specifically examined Bitcoin’s performance since its peak in November 2021, noting that despite positive news, BTC has experienced significant depreciation against gold. Schiff emphasized that institutional purchases and ETF approvals have not been sufficient to halt this decline, raising questions about Bitcoin’s long-term safety as an investment.
Bitcoin Faces Nearly 30% Loss Against Gold
According to Schiff, the decline of Bitcoin since its historic peak in 2021 has reached striking levels, not only against the dollar but also when compared to gold. He remarked, “Despite ETF approvals, major institutional purchases, and Bitcoin being positioned as a reserve asset, it has lost nearly 30% of its value against gold,” indicating a long-term bearish trend for BTC.
Schiff underscored gold’s historical role as a safe haven for investors while sharply criticizing Bitcoin’s attempt to adopt that identity. He pointed out that an asset that loses value when risk appetite declines distances itself from the definition of “digital gold.” In Schiff’s view, Bitcoin behaves much like a non-dividend-paying stock, undermining its claim as a store of value.
Institutional Purchases Fail to Meet Expectations
The Bitcoin purchases by the company led by Michael Saylor, Strategy, further support Schiff’s criticisms. The four separate acquisitions made in 2025 resulted in significant losses for the majority of the investments. Notably, losses reached 15.44% and 2.2% for transactions on February 24 and March 31, respectively, while a purchase of 130 BTC on March 17 saw only a limited increase.
These developments illustrate that even institutional investors struggle against Bitcoin’s volatility. The short-term losses from strategic reserve actions raise questions about BTC’s status as a safe haven. Schiff expressed that, given these data points, investors should be more cautious.
Bitcoin’s Role Continues to Be Debated
Even developments such as ETF approvals, increasing institutional adoption, and countries turning to Bitcoin as a reserve have not made BTC a stable investment vehicle. The data indicates that despite these advancements, Bitcoin remains vulnerable to price fluctuations. Schiff stated that the rapid ups and downs in Bitcoin’s price detract from its potential as a long-term value preservation asset.
While limited supply and decentralization are touted as Bitcoin’s key investment features, they create hesitation among investors in practice due to its high volatility. Sudden losses, especially in large transactions, exacerbate this uncertainty. Schiff believes investors should reconsider their portfolios and reassess Bitcoin based on these insights.
