Peter Schiff stated that if you buy gold instead of Bitcoin or MicroStrategy, you will earn 27%.

When Bitcoin faced a 4.5% fall over the week, trading at $114,100 at the time of the press report, gold supporter Peter Schiff reignited his long-standing criticism of this cryptoasset. In a post on X, Schiff highlighted performance figures since November 2024, shortly after Donald Trump's victory. According to him, Bitcoin only increased by 16%, while MicroStrategy ( now renamed Strategy) fell by 3%. Meanwhile, gold has risen by 27%, and the gold mining ETF $GDX has increased by 50%. Schiff's comparison aims to highlight the advantages of holding precious metals compared to cryptoassets and related stocks during that period. Bitcoin supporters rebut: "Data is meticulously selected." Schiff's post immediately faced opposition from the Bitcoin community. Sith Sou countered Schiff's argument, stating that if investors had bought Bitcoin right from the first time Schiff publicly criticized it, they would now be able to enjoy huge profits. Similarly, "The Bitcoin Therapist" argues that if looked at over a decade, Bitcoin will increase by 44,000%, implying that the recent price surge of gold is small by comparison. Jackie Robson also spoke out, accusing Schiff of cherry-picking the timeframe. He stated that if he zoomed out the chart to a year or more, his argument would quickly collapse.

Eli Nagar criticized the logic of comparing short-term performance to undermine the value of a long-term asset. He argued that Bitcoin was not built to outperform gold in just eight months, but to outlast gold through many generations. Meanwhile, Schiff responded to these comments by stating that past opportunities for Bitcoin are no longer relevant since he did not buy in. He emphasized that his focus is on the present, where he believes that precious metals and mining stocks offer better prospects than Bitcoin.

Bitcoin falls while the strategy faces paper losses when buying in July The exchange is taking place against the backdrop of a significant fall in the Bitcoin market. This asset has fallen 7.3% from its recent peak of $123,200 reached on July 14. Meanwhile, Strategy has made three large Bitcoin purchases last month: On July 14, the company purchased 4,225 BTC for $472.5 million, which has now increased by $9.5 million. On July 21, the company bought 6,220 BTC for $739.8 million, which has now fallen by $30.2 million. On July 29, the company made the largest purchase of the year, buying 21,021 BTC for $2.46 billion, which has now fallen by $61.9 million. Despite the short-term losses, Strategy still holds a total of 628,791 BTC, currently valued at approximately $71.73 billion. This results in an unrealized profit of about $25 billion for the company. However, Schiff continues to warn that MicroStrategy's Bitcoin-centric approach is highly speculative.