Peter Schiff Weighs In as Crypto Suffers Fresh Blow

In Brief

• Peter Schiff has attributed the latest crypto downturn to investors selling risk assets.
• His long-standing criticism of Bitcoin contrasts with other prominent voices.
• While gold’s recent surge coincided with Bitcoin’s correction, the superiority of gold remains debatable.

Shedrach Kongvong 2025-12-01

As the crypto market suffers a fresh downward move, gold bug and crypto critic Peter Schiff has weighed in on the matter. His opinion on the current market-wide correction, though reasonable, could be strongly debated by some.

According to Schiff, the market is in a correction due to the rise in the yields of the Japanese Government Bonds (JGB) which is causing investors to sell risk assets like Bitcoin to buy other assets like gold and silver. His position on the correction isn’t different from his previous stance concerning the crypto industry.

The yield on the 10-year JGB is now 1.84% and rising. That’s causing investors to sell risk assets. Stock futures are down, and Bitcoin and other cryptos are getting killed. But gold is now up over $20, trading above $4,240, while silver is surging $1.20, trading above $57.50.

— Peter Schiff (@PeterSchiff) December 1, 2025

Are investors selling Cryptocurrencies to Buy Gold?

Schiff is a long-standing critic of Bitcoin and crypto in general. He has always argued that Bitcoin has no intrinsic value and is a bubble that will pop just like the 2008 housing bubble. Even though the crypto industry has survived over 16 years with a rapidly growing market value, Schiff remains optimistic that it will go to zero.

Its still going to zero. Just traveling a long road.

— Peter Schiff (@PeterSchiff) March 26, 2023

This opinion isn’t held by all, not even in the legacy investment space. One of the top entrepreneurs in the U.S., Robert Kiyosaki, who encourages the purchase of gold and silver, also advocates investment in Bitcoin, which he said is the way to escape the next economic meltdown.

Last month, Schiff challenged two crypto titans Changpeng Zhao (CZ) and Michael Saylor to a debate at the upcoming Binance Blockchain Week to be held this week in Dubai. Schiff will be arguing that digitized gold is more reliable than gold. Apparently, this market downturn will further strengthen his argument in the debate.

Indeed, gold has done well this year, reaching the $4,000 price for the first time in its history. Interestingly, the gold rally coincided with the Bitcoin correction, giving credence to Schiff’s argument that it was a superior investment at the time.

Gold vs Crypto Performance Over Time

Bitcoin has been referred to as digital gold for many years, which has become a major point of argument. Schiff disagrees with this idea, saying gold is a real asset while Bitcoin is a bubble. While Bitcoin is highly volatile with huge price swings, it is regarded by its supporters as one of the best assets in the world.

In its 16 years of existence, the asset has grown to a market cap of over $3 trillion according to Coinmarketcap, and experts see it outgrowing gold in the future. Meanwhile, gold in its centuries of existence is at a $29 trillion market cap after its phenomenal surge this year.