Peter Schiff Fires Again: “Sucker’s Rally” In Bitcoin

Bitcoin (BTC)’s latest bounce is drawing fresh fire from one of the cryptocurrency industry’s loudest long-time skeptics, Peter Schiff.

The economist and gold advocate labeled the move a “huge sucker’s rally” in an X post he shared on January 14, arguing that the price action may be driven less by new conviction and more by traders rotating capital out of precious-metals exposure.

Why Peter Schiff Calls Bitcoin’s Bounce a “Sucker’s Rally”

Schiff suggested that some investors could be taking profits in gold and silver mining stocks and redeploying into Bitcoin (BTC)-related vehicles, specifically Bitcoin exchange-traded funds (ETFs) and Strategy (MSTR), the publicly traded company widely viewed as a leveraged proxy for Bitcoin.

In Schiff’s view, that rotation is a “big mistake.” Rather than chasing the crypto rebound, he argued that “savvy traders” should do the opposite: buy mining stocks and sell Bitcoin and MSTR into strength.

There’s a huge sucker’s rally in Bitcoin today. My guess is that some traders are taking profits in gold and silver mining stocks and buying Bitcoin ETFs and $MSTR. That’s a big mistake, and savvy traders should take advantage by buying mining stocks and selling Bitcoin and MSTR.

— Peter Schiff (@PeterSchiff) January 14, 2026

A Familiar Market Divide Between Bitcoin and Gold Traders

The comment quickly reignited a familiar market split. On one side are investors who treat Bitcoin ETFs as a cleaner, more liquid way to express risk-on exposure, especially when momentum returns.

On the other side stand gold-oriented traders who see crypto rallies as speculative surges that can fade quickly, particularly when broader markets are already pricing optimism in.

Fade What’s Hot or Ride the Momentum?

Schiff’s argument hinges on a classic relative-value setup: if money is moving from miners into Bitcoin products, he believes miners become the under-owned trade while Bitcoin becomes the crowded one.

For traders who agree with that framing, the strategy is straightforward: fade what’s hot, accumulate what was just sold.

But the market’s reaction will likely depend on what happens next. If Bitcoin holds gains and inflows continue toward ETFs, Schiff’s call may read as another premature fade.

If the move stalls and reverses, his post becomes a timely reminder that sharp rallies can attract late buyers, often right before volatility returns.

Meanwhile, BTC was at press time trading at $96,316.91, down 1% on the day, up 6.1% across the week, and advancing 9.6% in the past month, per the most recent price data.