"Sell Bitcoin, Buy Gold": This BTC Enemy Is Wrong Again Amid Cryptocurrency Surge

Even a stopped clock is right twice a day. Peter Schiff didn't take long. As soon as Bitcoin surpassed $72,000, buoyed by Trump's call to Congress regarding the Clarity Act, the head of Euro Pacific Capital took to X to regurgitate his usual refrain. Nothing new under the sun from the most famous gold bug in the crypto sphere. Key points of this article:

• Peter Schiff has once again predicted the fall of Bitcoin, despite its rise above $72,000.
• Since 2011, Schiff has declared Bitcoin dead 22 times, yet Bitcoin has experienced extraordinary growth since then.
  This is yet another attack from Peter Schiff against the queen of cryptocurrencies. The website bitcoindeaths.com, which methodically tracks Bitcoin's death announcements since its inception, credits Peter Schiff with at least 22 such statements since 2011.
  An absolute record, far ahead of economist Steve Hanke (10 announcements) and Warren Buffett (8). His first statement dates back to a time when Bitcoin was worth about $17. It now trades for over 4,000 times that amount. His latest warnings, published in early 2026 in a range of $60,000 to $65,000, predicted an 85% collapse, which never occurred.
  The ultimate warning, dated yesterday, again predicts the end of the world for Bitcoin:

"Bitcoin's rally above $72K is a fakeout, not a breakout. The Treasury buyback announcement caught markets by surprise. Bitcoin investors have long believed a return to easy money would be the catalyst for gold and Bitcoin to soar. They are only half right. Sell your Bitcoins, buy gold."
Bitcoin's rally above $72K is a fakeout, not a breakout. The Treasury buyback announcement caught markets by surprise. Bitcoin investors have long believed a return to easy money would be the catalyst for gold and Bitcoin to soar. They are only half right. Sell Bitcoin, buy gold.
--- Peter Schiff (@PeterSchiff) August 20, 2026
Translated, the argument boils down to one sentence. The rebound would only be a ruse caused by the surprise announcement of U.S. Treasury bond buybacks, not by a real market reversal. On this specific point, the described mechanics are not absurd. However, regarding the conclusion he has drawn for fifteen years, history is decidedly less kind to him.
Today's advice is not new either. Schiff has been repeating for years that gold should be preferred over Bitcoin in the event of a return to accommodative monetary policies. Since his first call in 2011, the price of gold has risen from about $1,600 to just over $4,550, a respectable increase, but one that pales in comparison to the more than 4,000 times the return garnered by Bitcoin over the same period.
An article from CCN recently summarized the question that now occupies a good part of the crypto sphere: why does he continue, despite this track record?
The answer partly lies in the short memory of social media. Back in 2020, after a rally that caught him off guard, Schiff publicly admitted he was wrong about Bitcoin, only to revert to his bearish habits a few months later. On X, his statements provoke more sarcasm than outrage, and a good part of the crypto ecosystem finds more amusement than concern in them. Bitcoin, despite its rebound today, still shows a loss of about 18% since January 1.