- Peter Schiff warned that Bitcoin may be the first asset to drop if Gold and silver continue their recent surge.
- Silver reached a record high of $66.50, more than doubling in value this year, while Bitcoin’s price has fallen by over 6% in 2025.
- Schiff predicted silver could hit $70 before year-end and gold is likely to reach a new record high soon.
- Schiff also cautioned that the U.S. economy may face a major crisis, as rising gold and silver prices indicate growing financial stress.
Peter Schiff issued a warning on Tuesday that Bitcoin could face significant losses as gold and silver experience sharp gains in global markets. His comments, shared in a recent post on X, suggested that Bitcoin is at risk as investors shift toward precious metals.
Silver prices surged past $66.50 per ounce Tuesday night, representing their highest recorded level. The price of silver has more than doubled in 2025. At the same time, Bitcoin’s value has declined more than 6% this year, dropping below $87,000 after a brief uptick. Gold also saw gains, rising 0.8% to roughly $4,338 per ounce. Schiff predicted that silver could reach $70 before the end of the year, and gold might set another record high by the end of this week, as stated in his post.
Retail sentiment for major silver and gold exchange-traded funds (ETFs) is currently “extremely bullish” or “bullish,” while sentiment surrounding Bitcoin remains “extremely bearish” on major trading platforms. Trading activity and public discussion levels reflect this shift.
According to Schiff, those who bought Bitcoin as a hedge against the weakening U.S. dollar could be in for disappointment. “This will surprise Bitcoin HODLers, who bought Bitcoin to protect themselves from a dollar crash. They jumped from the frying pan into the fire,” he wrote in his post.
Schiff also stated in another post that the U.S. is nearing “the biggest economic crisis of our lifetimes.” He cautioned that higher gold and silver prices may signal rising financial instability, which could erode confidence in U.S. currency and government debt. According to Schiff, increasing precious metal prices are likely to push consumer prices higher, raise bond yields, and drive up unemployment. He reiterated his view that inflation will become harder to manage if trust in government-backed (fiat) currencies breaks down, and that Bitcoin will ultimately fail.
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