Veteran investor Peter Schiff has raised concerns about Bitcoin’s future, suggesting it may be nearing a bear market. When compared to gold, the cryptocurrency appears weaker than its reported performance suggests. Since mid-August, Bitcoin’s value against gold has declined by nearly 20%, approaching levels often considered as the start of a bearish cycle. From its peak in 2021, the ratio remains down double digits. Schiff argues that this decline reflects gold’s consistent strength compared to Bitcoin’s volatile performance. Despite boasting impressive gains in dollar terms, with a 96% increase over the past year and nearly 1,000% appreciation over five years, Bitcoin has struggled in recent months. A drop below $110,200 in early September highlighted its susceptibility to short-term market shifts. Schiff’s primary argument centers on gold’s enduring stability as a hedge against uncertainty, whereas Bitcoin remains more speculative and prone to sudden swings. While gold continues its record-breaking climb this year, with over 36% gains and consistent performance across multiple timeframes, the debate regarding the long-term value of these assets remains unresolved. Schiff maintains his conviction that only gold offers the level of stability investors can rely upon.