Peter Schiff Questions Bitcoin’s Role as a Growth and Hedge Asset
Longtime Bitcoin critic Peter Schiff reignited debate around the cryptocurrency after stating that if Bitcoin does not rise when technology stocks rally, and also fails to perform when gold and silver appreciate, then it has no remaining catalyst for sustainable growth. According to Schiff, this contradiction undermines the narrative that Bitcoin can simultaneously serve as a risk-on growth asset and a hedge similar to precious metals.
He went even further, arguing that Bitcoin’s era is effectively over. In his view, the majority of retail participants have already bought in, leaving little fresh demand to support higher prices. Schiff concluded that if Bitcoin cannot grow under favorable macro conditions, then its only remaining path is lower.
“The Era of BTC Is Over”: Why Schiff Believes Decline Is Inevitable
Schiff’s argument rests on the idea that Bitcoin has lost its uniqueness. When technology stocks rally, Bitcoin is supposed to behave as a high-beta risk asset. When inflation fears rise and investors flock to gold and silver, Bitcoin is often promoted as digital gold. Schiff claims that recent market behavior contradicts both narratives.
In his words, if Bitcoin fails to rise in either scenario, then its value proposition collapses. He even suggested that holders should hope for a quick drop rather than a prolonged period of stagnation, which he described as a slow financial agony.
CZ Responds by Archiving Bitcoin “Doomsday” Predictions
Changpeng Zhao, widely known as CZ, reacted to Schiff’s comments by asking the community to preserve the tweet and gather similar past predictions of Bitcoin’s demise. His response reflects a broader sentiment among crypto veterans who have witnessed repeated declarations of Bitcoin’s death over the past decade.
From China’s mining bans to exchange collapses and regulatory crackdowns, Bitcoin has faced numerous existential threats. Each time, critics declared the experiment finished. Yet Bitcoin has repeatedly recovered, often reaching new highs months or years after such pronouncements.
A Familiar Pattern in Crypto Market History
This exchange highlights a recurring pattern in the cryptocurrency market. During periods of uncertainty or consolidation, high-profile skeptics often resurface with strong bearish narratives. At the same time, industry insiders point to the long history of failed predictions about Bitcoin’s collapse.
The debate also underscores a deeper issue. Bitcoin’s role in the global financial system is still evolving. It is not yet universally accepted as digital gold, nor is it fully integrated into traditional equity-style investment frameworks. This ambiguity makes it easier for critics to argue that it has failed to meet expectations.
What This Means for Investors
For investors, Schiff’s comments are less about precise price direction and more about narrative conflict. Bitcoin continues to be pulled between multiple identities: speculative tech-like asset, inflation hedge, store of value, and alternative monetary system. Until one of these roles clearly dominates, similar critiques are likely to persist.
BTCUSA Insight
Peter Schiff’s latest attack fits into a long tradition of public Bitcoin obituaries. CZ’s call to archive these predictions is a reminder that sentiment cycles are as important as price action. Historically, moments of widespread skepticism have often preceded renewed interest and recovery in the Bitcoin market.
