Economist and gold advocate Peter Schiff shared on social media platform X this week a series of posts criticizing bitcoin’s price behavior, recent market rallies, and corporate exposure tied to the crypto asset, while reinforcing his long-standing view that bitcoin represents a speculative excess rather than durable value.

“ Bear markets slide a slope of hope. That’s why the biggest daily moves in bear markets are usually up,” he said on Feb. 6. “Such sharp rallies create a false sense of optimism, keeping people in when they should be getting out.” Noting in another X post that “MSTR is up 25% today” and “ bitcoin is up 11%,” Schiff firmly advised:

“Sell the rip!”

In other posts shared Feb. 5, Schiff intensified his broader critique of BTC, writing: “The real story about bitcoin isn’t its 50% decline, but that the biggest financial mania in history is likely over. What’s most amazing is how the scheme’s promoters convinced the mainstream financial media, Wall Street banks, and elected government officials to embrace it.” He also questioned the durability of the downturn, stating:

“The amazing part about the bitcoin bear market is that the price is down almost 50% from its peak and there still hasn’t been a crash. There is no way this bear market will end without one.”

Schiff maintains that bitcoin is a speculative bubble backed by nothing, arguing it lacks the intrinsic value found in gold’s physical utility for electronics or jewelry. He views the crypto asset as a Greater Fool wealth transfer, where early adopters profit only if later buyers subsidize them. Throughout 2025, Schiff frequently pointed to bitcoin’s declining purchasing power relative to gold as evidence that the digital gold narrative has failed. He contends that bitcoin is a risk asset, not a safe haven, predicting that while a financial crisis birthed it in 2008, a similar crisis will eventually destroy it.

The economist further framed his outlook through comparisons with gold, writing in another post:

“ Bitcoin is about to trade below its Nov. 2021 high of $69,000. More significantly, measured in gold, bitcoin is now 60% lower than it was then. Saylor is down 9% on his $54 billion bitcoin bet, and MSTR’s losses are just beginning to pile up. HODLers, abandon a sinking ship!”

Read more: Peter Schiff Sees Bitcoin Setting up for Major Crash as Dollar Collapse Looms

Schiff has also criticized U.S. political enthusiasm for crypto, contrasting it with China’s focus on manufacturing and gold accumulation. Supporters of bitcoin counter that the network operates as a decentralized and immutable monetary system with continuous uptime, deep liquidity, and fixed supply, arguing that growing institutional and sovereign adoption supports its role as a long-term store of value despite market volatility.

• Why is Peter Schiff criticizing bitcoin’s recent price rally?
  He argues sharp rallies during bear markets create false optimism and delay deeper sell-offs.
• What does Schiff say about bitcoin compared with gold?
  He claims bitcoin measured in gold is down nearly 60% from its 2021 peak.
• How does Schiff view corporate bitcoin exposure like MSTR?
  He warns Strategy’s bitcoin-linked losses are only beginning to accumulate.
• What do bitcoin supporters cite against Schiff’s claims?
  They point to uninterrupted network operation, high liquidity, and expanding institutional adoption.

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