Peter Schiff Says Silver Beats Bitcoin on Profits and Risk – Is He Right?

Whenever Bitcoin stumbles, Peter Schiff is quick to remind everyone why he thinks it’s doomed. But this time, the long-time critic is making a case for silver, instead of the usual favorite, Gold.

In a new post on X, Schiff claimed silver has more upside than Bitcoin right now, with less risk. “If anyone is looking for an alternative to gold, it makes no sense to buy Bitcoin when you can buy silver,” he said.

So, is Schiff onto something or is this just another swing at Bitcoin that’s already been heard too many times? The numbers suggest a different story. And the crypto community had plenty to say.

Let’s break it down.

Schiff Strikes When Bitcoin Dips 

Schiff’s comments came as Bitcoin saw a mild pullback this week. BTC is currently trading just above $104,700 – down around 3.8% from its recent high of over $108,000.

Using that drop as his cue, Schiff went after Bitcoin again. He called out investors for “foolishly buying” BTC instead of silver.

Silver vs. Bitcoin: Here’s the Reality

Despite his warnings, Bitcoin is still ahead of silver where it matters most – market value.

Bitcoin currently ranks 7th among global assets with a market cap of $2.079 trillion. Silver comes in just below at $2.007 trillion. So even after a dip, BTC is still leading.

It’s not the first time Schiff has predicted Bitcoin’s collapse. And yet, BTC keeps gaining value and global relevance, while his arguments haven’t changed much over the years. Makes you wonder.

Crypto Twitter Isn’t Buying It

Crypto supporters were quick to respond. One of the most popular replies came from Bitpulse, who tweeted:

“Oh Peter, still pushing old-school silver in a digital age? While silver collects dust, Bitcoin disrupts economies and empowers individuals globally!”

Schiff fired back: “All Bitcoin will disrupt is the fortunes of those who buy it.”

Ouch! No surprise there, but Schiff doubled down on his stance, brushing off the criticism as usual, and the back-and-forth with crypto supporters only gained more momentum.

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Zooming Out: Schiff’s Bigger Concerns

Schiff’s comments on Bitcoin also tie into his broader warnings about the U.S. economy. On Fox Business, he slammed the Fed for keeping interest rates unchanged and said Fed Chair Jerome Powell “basically admitted they have no idea what’s going to happen.”

According to Schiff, inflation will rise, economic growth will slow, and higher rates are needed to fix the damage from years of loose policy.

Final Take: Is Schiff Missing the Shift Again?

For years, Peter Schiff has said Bitcoin won’t last. But despite the criticism, it’s grown into one of the world’s most valuable assets – ahead of silver, and closing in on others.

So while silver may still appeal to traditional investors, Bitcoin’s rise doesn’t seem to be slowing. Whether Schiff likes it or not, the market seems to have made its choice.

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