Schiff Renews Bitcoin Sell Call While Silver’s Historic Rally Continues
Veteran gold advocate and longtime cryptocurrency critic Peter Schiff has once again urged investors to sell Bitcoin, seizing on the asset’s rebound above the $90,000 level as what he described as another chance to exit the market.
The economist, who has spent years arguing that cryptocurrencies lack intrinsic value, reiterated his belief that rallies should be used to sell rather than accumulate.
“Bitcoin is back above $90,000. Another opportunity to sell,” Schiff wrote on X on Monday, doubling down on his view that the asset is fundamentally flawed.
Schiff’s remarks came as Bitcoin climbed back above the $90K mark, recovering from a roughly 20% decline over the previous two months. However, the crypto market leader has since pulled back to trade below the key price point again at press time.
BTC price (Source: CoinGecko)
Schiff Rejects Bitcoin-Gold Comparison
Responding to users who suggested that Bitcoin and gold represent similar macroeconomic hedges, Schiff pushed back sharply, arguing that the two assets behave in fundamentally different ways.
“Actually they are the opposite trade,” he wrote, adding that the correlation between gold and Bitcoin is negative. Schiff has long maintained that Bitcoin fails as a store of value, while precious metals, particularly gold and silver, retain purchasing power over time.
He also used the holiday period to restate his bearish stance.
On Boxing Day, Schiff wrote: “Merry Christmas, HODLers. Santa gave you guys a Christmas gift after all—a Bitcoin rally to sell into.”
The comments are consistent with Schiff’s broader narrative that cryptocurrencies function as speculative instruments rather than sound money. He has repeatedly described Bitcoin and other digital assets as a “ponzi scheme,” while promoting gold and silver as reliable alternatives.
Bullish on Silver Despite Volatility
While bearish on Bitcoin, Schiff remained firmly bullish on precious metals, particularly silver, which has seen outsized gains this year.
On Sunday, Dec. 28, silver prices briefly surged to $84 per ounce, marking a roughly 170% increase year-to-date.
The rally pushed silver’s market capitalization above that of NVIDIA, briefly making it the second most valuable asset globally behind gold, according to Schiff’s commentary.
Following a sharp pullback on Monday, Schiff acknowledged the volatility but suggested the metal was approaching key support levels. “Well that didn’t take long,” he wrote, before later adding that silver appeared to have found a more stable recovery zone.
“This historic bull market still has a long way to run,” Schiff said, despite the recent correction.
Bitcoin Rebounds, Caution Remains
Bitcoin’s rebound above $90,000 has been attributed to a mix of geopolitical uncertainty and increased activity in crypto derivatives markets. Rising oil prices linked to tensions in Eastern Europe have renewed inflation concerns, while funding rates in Bitcoin futures markets have climbed to multi-month highs.
Despite the recovery, analysts remain cautious. Institutional inflows into spot Bitcoin exchange-traded funds have softened in recent weeks, and elevated leverage across derivatives markets has raised concerns about renewed volatility if Bitcoin fails to hold above key technical levels.
Spot US BTC ETF flows (Source: Farside Investors)
For Schiff, however, the conclusion remains unchanged: rallies are opportunities to sell, not signals of long-term validation.
Wikipedia Dispute Escalates
In parallel with his market commentary, Schiff escalated a public dispute with Wikipedia, accusing the platform of publishing “false and defamatory” statements about him.
“Wikipedia continues to make false and defamatory claims about me,” Schiff wrote, alleging that editors refused to correct what he described as inaccurate information on his biography page.
Schiff said the site falsely implied that a bank associated with him was shut down for tax evasion and money laundering, claims he denied.
He also disputed statements that he personally paid a $300,000 fine and that his defamation lawsuit against Australian media outlets The Age and 60 Minutes was settled.
“That is also false,” Schiff wrote. “It was not settled. I won.”
He further accused Wikipedia of ideological bias, claiming its editors “cover up government crimes” and spread misinformation to advance a left-wing agenda. Wikipedia did not immediately respond to a request for comment.
