- Schiff claims Bitcoin is in stealth bear market compared to gold
- Bitcoin is down 22% since August 2025 gold outshines
- Bitcoin’s long term growth still surpasses gold despite recent weakness
Peter Schiff, a staunch gold advocate, has reignited his criticism of Bitcoin, claiming the cryptocurrency is currently in a “stealth bear market” when compared to gold. In a recent post on X, Schiff pointed out that Bitcoin is down 22% from its high in August 2025 and 20% from its peak in November 2021 when measured against gold.
Schiff’s analysis highlights that one Bitcoin, valued at around $109,702, is equivalent to just 29 ounces of gold, with gold priced at $3,773 per ounce. By contrast, in August 2025, Bitcoin’s price of $124,128 translated to nearly 37 ounces of gold. In November 2021, that number was 35.6 ounces. Schiff argues that the decreasing Bitcoin-to-gold ratio shows Bitcoin’s weakness, positioning gold as the superior asset in terms of inflation protection.
Also Read: BlackRock Gives New Update on XRP ETF Filing: Details
Bitcoin Advocates Hit Back, Defend Cryptocurrency’s Long-Term Strength
In response to Schiff’s claims, Bitcoin enthusiasts quickly pointed out that both Bitcoin and gold can thrive in times of rising inflation. John Ratcliff, a well-known Bitcoin investor, argued that both assets would perform well during hyperinflation, dismissing Schiff’s bearish stance.
Critics also reminded the public of Schiff’s past failed predictions, including his 2018 forecast that Bitcoin, then at $3,800, would crash to $750. Instead, Bitcoin soared to over $100,000 in the following years, far outpacing gold’s growth during the same period.
Bitcoin’s Long-Term Performance Outpaces Gold, Despite Short-Term Weakness
Several market observers pointed out the striking contrast in performance between Bitcoin and gold over the long run. Between September 2020 and September 2025, Bitcoin saw an impressive return of 919%, rising from $10,749 to $109,541. Meanwhile, gold experienced a modest 104% increase, moving from $1,861 to $3,790 per ounce.
Despite Bitcoin’s recent underperformance when measured in gold, its overall growth trajectory remains impressive. This ongoing debate underscores the growing divide between Bitcoin’s adoption and gold’s historic stability, with both assets carving out their own roles in investors’ portfolios.
Also Read: SoftBank and Ark Investment Eye Multibillion-Dollar Funding for Tether
