Peter Schiff predicts four worse years for Bitcoin as gold hits all-time highs

Source: Yellow Original Title: Peter Schiff predicts four worse years for Bitcoin as gold hits all-time highs

Original Link: https://yellow.com/en/news/peter-schiff-predicts-four-worse-years-for-bitcoin-while-gold-hits-all-time-highs Bitcoin (BTC) critic Peter Schiff said on Tuesday that the next four years will be “much worse” for Bitcoin as gold approaches $4,500 per ounce.

Schiff argues that Bitcoin has lost 46% of its value when valued in gold since November 2021.

With gold trading near $4,490 and Bitcoin struggling around $87,000, the economist claims that his thesis that “Bitcoin is digital gold” has failed.

The intelligence strategist from Bloomberg, Mike McGlone, has repeated similar warnings, labeling Bitcoin as “dead money” that carries extreme risk without generating returns.

What happened

Schiff pointed out that when Bitcoin reached $69,000 in November 2021, he could buy approximately 38 ounces of gold.

At current prices, Bitcoin buys approximately 19 ounces of gold, representing a 50% drop in relative purchasing power.

Gold has experienced a rally of over 70% in 2025, marking its best annual performance since 1979.

The precious metal reached record highs above $4,477 per ounce on Monday, driven by geopolitical tensions, central bank purchases, and cuts in the Federal Reserve's rates.

Bitcoin is trading approximately 30% below its 2025 high of around $126,000 reached in October.

McGlone argues that Bitcoin has become an investment that carries high risk without corresponding returns.

The Bloomberg analyst predicted that Bitcoin could fall to $10,000, comparing current market conditions to the Great Depression of 1929.

He pointed to Bitcoin's poor performance relative to both gold and tech stocks as evidence of its failed value proposition.

Why it matters

Schiff has predicted the collapse of Bitcoin since it was trading below 300 dollars, which has made him constantly wrong for more than a decade.

Its analysis gains attention during periods when Bitcoin performs worse than traditional assets like gold.

The market environment of 2025 has favored safe-haven assets over risk assets.

Capital has rotated towards gold and silver, while Bitcoin has struggled to maintain momentum despite the approval of spot ETFs.

McGlone pointed out that the Bitcoin rebound following the launch of the ETFs did not manage to drive the cryptocurrency to new sustainable highs in relation to inflation or stocks.

However, Bitcoin remains well above its historical lows and maintains a market capitalization of over 5 trillion dollars across the crypto sector.

Cryptocurrency has survived multiple falls of over 80% throughout its history, ultimately reaching new all-time highs.

The performance of gold in 2025 represents an exceptional year beyond typical market conditions, and analysts point out that the rally could moderate in 2026.