Peter Schiff has delivered another strong critique of Bitcoin, stating its recent price drop below $104,500 confirms a market peak. The economist and gold advocate cited the latest crash amidst tensions between Israel and Iran, where gold prices surged beyond $3,410 while Bitcoin experienced significant losses. Schiff argues that this highlights Bitcoin’s failure to consistently outperform gold during periods of economic uncertainty. 2025 has seen renewed interest in Bitcoin thanks to ETFs, El Salvador adopting it as legal tender, celebrity endorsements, institutional investments, and corporate purchases. However, despite these factors, Bitcoin hasn’t been able to capitalize on opportunities like gold during crises. Schiff highlights the recent surge in gold prices following a geopolitical flashpoint between Israel and Iran as proof. 2025 marks a significant year for Bitcoin with notable developments such as ETF launches and clearer regulations leading to increased interest. Yet, this has not resulted in Bitcoin reaching gold’s performance levels. In fact, the latest market slump emphasizes Schiff’s long-held view that Bitcoin is becoming more speculative than its traditional role. He argues that this could lead to a major decline when liquidity dries up, potentially leaving investors holding the bag. This timing adds weight to his warnings as they coincide with an actual market crash and gold’s steady growth, highlighting the real-world impact of his predictions. Whether or not the market agrees with him, Schiff remains steadfast in his assertion that Bitcoin is a speculative asset vulnerable to a market downturn when sentiment shifts. He asserts that the hype surrounding Bitcoin has reached its limits, while institutions using leverage may bear the brunt if sentiment changes.