Schiff Claims Wall Street Killed Bitcoin
Analysis
Price Impact
LowPeter schiff is a well-known gold proponent and long-term bitcoin skeptic. his arguments, while consistent with his views, are generally dismissed by the crypto community and have little discernible impact on market sentiment or price action. the article itself points out bitcoin's significant returns since the etf launch, directly contradicting his narrative.
Trustworthiness
LowSchiff's consistent bearish stance on bitcoin has historically been incorrect over the long term. while he highlights short-term volatility and compares it to precious metals, his fundamental distrust of bitcoin's value proposition is well-established and often not aligned with market reality.
Price Direction
NeutralSchiff's comments are largely noise within the crypto space. the article provides counter-arguments, such as bitcoin's 116% return since the etf launch. while he attempts to paint a bearish picture by comparing it to gold and silver, the market has largely disregarded his historical critiques.
Time Effect
ShortAny minimal impact from schiff's comments would be fleeting. his arguments are not new, and the market has already factored in such skepticism. long-term trends are driven by broader adoption, technological developments, and macroeconomic factors, not by the critiques of a single gold bug.
Original Article:
Article Content:
Cover image via U.Today Read U.TODAY on Google News 116% returns vs. "late" entrants Bitcoin vs. precious metals Advertisement Peter Schiff has a new theory for why Bitcoin (BTC) is struggling to maintain its momentum in early 2026: Wall Street ruined it. In a recent social media exchange, the odious gold bug has argued that the "institutionalization" of the cryptocurrency has effectively killed its value proposition. According to Schiff, the asset's best days occurred when it was a niche, contrarian bet. HOT Stories Turkish Banking Giant Extends Ripple Partnership U.Today Crypto Review: XRP Prints Double Bottom, Shiba Inu (SHIB) Uptrend Available, Bitcoin (BTC) 'Now or Never' Price Moment U.Today Crypto Digest: Ripple Snatches Major Partnership in $5 Trillion Pool, XRP Defies Death Sentence, Shiba Inu Avoids BTC Selling Pressure Powerful Pro-Bitcoin BlackRock Exec Could Become Next Fed Chair Now that it has been packaged into ETFs and sold to the masses, he claims it has become one of the "worst performing assets." Advertisement 116% returns vs. "late" entrants The commentary was sparked by a back-and-forth on X (formerly Twitter) with one user challenging Schiff’s bearishness by pointing to the scoreboard. "It’s literally up over 116% since the ETF launch in Jan 2024," Kavaljian noted. You Might Also Like Sun, 12/28/2025 - 08:26 Schiff Claims Bitcoin 'Wastes' Energy By Alex Dovbnya Advertisement Schiff , however, dismissed the 116% figure as a "rear-view mirror" metric that masks the reality for the majority of current holders. "Mostly just the first few months," Schiff retorted. "Most people who now own bought later. But gold and silver have way outperforming 116%." Bitcoin vs. precious metals Bitcoin is currently trading near $92,000 (up roughly 116% from the ~$42,000 levels of Jan 2024), but it has faced stiff competition from "boomer rocks." Silver has been on a parabolic run, recently breaking yet another all-time high. "Silver is above $98, trading at $98.35. Amazing that it's less than $2 away from $100. It's up over 35% so far this year, and there's still over a week left in January!" Schiff said. Gold has consistently hit new all-time highs, and it is now inching closer to the $5,000 mark. "Since its peak in November 202,1 Bitcoin is now down over 50% priced in gold. Let that sink in," the gold bug noted. #Bitcoin Price Prediction #Peter Schiff