Peter Schiff claims recent moves vindicate his stance as he critiques Bitcoin and praises gold

Economist and vocal Bitcoin critic Peter Schiff said Strategy’s aggressive accumulation helped fuel Bitcoin’s meteoric rise and argued that an unwind of those positions has begun, framing recent price moves as a vindication of his long-standing skepticism of crypto ^[1]. The exchange of public barbs with supporters of Strategy’s approach, including renewed back-and-forth with Michael Saylor’s camp, has amplified attention on whether the firm’s Bitcoin bet is showing signs of strain ^[2].

Schiff also reiterated his view that China favors gold over Bitcoin, citing the country’s large official gold holdings as evidence that traditional bullion is a preferred reserve asset; some outlets noted China’s reported holdings of roughly 2,306 tonnes, valued at more than $319 billion, in coverage of Schiff’s comments ^{[3] [4]}. He asserted Bitcoin has performed poorly against gold, arguing its value declined significantly relative to bullion since 2024 ^[4].

Taken together, Schiff’s recent statements combine his critique of Bitcoin with praise for gold, and he is using recent market developments to underscore that position ^{[1] [3]}.