Peter Schiff Urges Bitcoin Holders to Sell and Buy Silver

Bitcoin critic Peter Schiff is as soon as once more sounding the alarm, telling traders to promote Bitcoin (BTC) and buy silver.

These feedback come because the flagship cryptocurrency surged previous $118,000, attaining a brand new all-time excessive.

Schiff’s Feedback

In a July 10 post on X, Schiff urged BTC holders to money of their stash and switch to silver earlier than the metallic’s subsequent upward worth motion.

“With Bitcoin hitting new highs as we speak (in {dollars}), it’s a good time to promote some and purchase silver forward of silver’s subsequent massive leg up,” he stated.

The main crypto asset by market cap noticed its worth hit $118,254, marking one more file excessive in 2025. Following this, the economist defined that BTC can simply crash whereas silver provides a extra steady and undervalued various. He additional in contrast the 2 belongings, stating that silver was buying and selling again above $37 and up nearly 2% on the day, whereas BTC’s new excessive is speculative and overextended.

The dear metals proponent emphasized that silver mining shares stay underpriced regardless of the upward motion, suggesting the market hasn’t but factored of their momentum. In line with him, as soon as silver breaks previous the $40 degree, it might speed up shortly towards $50. He additionally thinks that mining shares would catch up as soon as this occurs.

Regardless of his warnings, BTC continues to be forward of silver by way of market worth. It presently ranks sixth amongst world belongings with a market cap of $2.20 trillion, simply forward of Google, with silver coming in at $2.007 trillion.

The digital asset’s worth has additionally continued to rally, pushed by robust ETF inflows, rising company adoption by crypto-focused treasury corporations, and an more and more supportive regulatory setting.

Crypto Group Stays Unconvinced

Crypto supporters had been fast to reply to Schiff’s newest commentary, with most not shopping for what he was promoting. Their responses to his X put up ranged from folks asserting they might not eliminate their BTC for silver to others referencing the obvious folly of his earlier remarks.

One X person highlighted how the gold bug’s sentiment had gone from “Bitcoin won’t ever hit 100k” to “even when Bitcoin retains rising for some time…” Others identified the flaw in his logic, claiming that the cryptocurrency had clearly outperformed the metallic.

It’s not the primary time Schiff has fired broadsides at Bitcoin. Up to now, he has advised merchants to promote all of their BTC in favor of gold mining shares, claiming that it’s a dangerous asset. The monetary commentator is an invested critic of the digital asset, usually calling it speculative and with out intrinsic worth, whereas asserting that it’ll collapse sometime if a significant financial disaster hits