Peter Schiff has once again stirred up the cryptocurrency debate. The American economist, investor, and long-time gold advocate used the social platform X to launch another attack on Bitcoin, which he claims is underperforming not only precious metals but also major stock market indexes in 2026.
In his recent post, Schiff pointed out that since the beginning of 2026, gold has gained 9%, silver 11%, the Nasdaq index 13%, and the Russell 2000 index 14%, while Bitcoin has allegedly fallen by 11%. He used this comparison to criticize the argument that Bitcoin functions as an independent asset or a digital alternative to gold.
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Bitcoin as an “uncorrelated asset”? Schiff mocks crypto bulls
One of the main arguments from Bitcoin supporters has long been that BTC can serve as an inflation hedge, an alternative to the traditional financial system, and a digital store of value. Schiff has consistently rejected that narrative.
According to him, Bitcoin does not function as a safe haven in practice because it can decline even during periods when both risk assets and precious metals are rising.
That is precisely why his latest comments were quickly picked up by crypto media outlets. CryptoRank noted that Schiff mocked Bitcoin at a time when gold, silver, and major U.S. indexes were all rising, while Bitcoin remained in negative territory throughout 2026. At the time of writing, Bitcoin was trading around $80,818.
That does not automatically mean Schiff is right. Bitcoin remains an extremely volatile asset, and short-term comparisons with stocks or gold can easily be misleading.
Schiff also targets Michael Saylor and Strategy
Another major focus of Schiff’s recent criticism is Strategy, formerly known as MicroStrategy, and its Bitcoin-centered corporate model. The company associated with Michael Saylor is among the largest corporate holders of Bitcoin and has built its long-term strategy around accumulating BTC.
Schiff argues, however, that this model is becoming increasingly risky. He specifically criticized STRC, a high-yield preferred stock instrument that Strategy uses to finance additional Bitcoin exposure.
According to U.Today, Schiff described the model as “the most obvious Ponzi scheme in history,” arguing that it relies on the assumption that Bitcoin must continue rising fast enough to cover the company’s yield obligations.
U.Today also noted that STRC is associated with yields of around 11.5%. Schiff argues that if Bitcoin fails to outperform the cost of this capital, Strategy could come under pressure and may eventually need to sell Bitcoin, issue more financial instruments, or increase investor yields.
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Peter Schiff tweets continue to counter Bitcoin optimism
Schiff’s comments play a unique role in the cryptocurrency world. For some investors, they are simply repetitive criticism from a man who has opposed Bitcoin for years. For others, however, they serve as a useful warning against excessive optimism, leverage, financial engineering, and the belief that BTC prices can only rise in the long term.
His argument is built on a simple contrast: gold has physical utility, a historical role as a store of value, and a place in central bank reserves, while Bitcoin, according to Schiff, depends mainly on investor belief.
He has made similar comments before, arguing that if people stopped believing in Bitcoin, its market value could theoretically fall to zero.
Naturally, this opinion remains highly controversial among crypto supporters. Bitcoin has a limited supply, a decentralized network, and more than fifteen years of operating history without a central authority. Still, its price remains heavily dependent on market confidence, liquidity, macroeconomic conditions, and investors’ willingness to hold riskier assets.
