Long-time Bitcoin critic Peter Schiff has once again railed against the cyber currency. He calls on crypto investors to sell all BTC as a massive price drop is imminent.
• Bitcoin drops significantly at times
• Peter Schiff predicts a significant fall in prices
• Gold the better investment?
Well-known economist Peter Schiff recently warned that Bitcoin could face a price collapse. Schiff was reacting to the recent volatility in Bitcoin & Co, triggered by the new US tariffs and concerns about an impending escalation of the Iran conflict. This had a significant impact on Bitcoin and caused it to temporarily drop to around $62,500. The low from the beginning of February at $60,000 also came back within reach. As a reminder: In October 2025, the cryptocurrency had reached an all-time high of around $126,000 via CoinMarketCap. Most recently, however, the cyber currency – despite an escalation in the Iran conflict – was around 70,000 US dollars (as of March 6, 2026).
Advertising
Over 650+ cryptos and 3,000 digital assets
Bitpanda is the BaFin-licensed crypto broker from Austria and the official crypto partner of FC Bayern Munich. Create your account with just a few clicks and benefit from 0% deposit and withdrawal fees.
As the economist explained in an X post, crypto investors should keep an eye on whether the cryptocurrency falls below the $50,000 mark, which he believes is not unlikely. If this happens, a test of the $20,000 mark is also very likely. There have been such drastic price fluctuations in the past, “but never with so much hype, leverage, institutional investors and market capitalization at stake,” Schiff said in the article. His recommendation for action: “Sell Bitcoin now!”
If Bitcoin breaks $50K, which looks likely, it seems highly likely it will at least test $20K. That would be an 84% drop from its ATH. I know Bitcoin has done that before, but never with so much hype, leverage, institutional ownership, and market cap at stake. Sell Bitcoin now!
– Peter Schiff (@PeterSchiff) February 19, 2026
When asked by the
But every time Bitcoin makes a new high, pumpers claim that type of volatility is a thing of the past. Then after the crash they say, well that’s just how Bitcoin works. Volatility is a feature, not a bug.
– Peter Schiff (@PeterSchiff) February 19, 2026
However, it is unlikely that Bitcoin enthusiasts will take the economist’s warning seriously. Schiff has been a harsh critic of Bitcoin for years and has repeatedly warned of an impending price collapse. Instead, he appears to be an advocate for gold investments, which he considers to be significantly safer and which would also bring more returns.
Is Bitcoin lagging behind gold?
In another X article from the end of February, he used a calculation example that, in his opinion, shows that Bitcoin lags behind gold in terms of returns. The economist calculated that Bitcoin has lost 66 percent of its value compared to its peak in November 2021 if the price of Bitcoin is not calculated in US dollars but in gold.
Bitcoin is now down over 66% when priced in gold since its Nov. 2021 peak over four years ago. Putting that into perspective, had you invested $10,000 in Bitcoin back then, it would be worth about $9,100 today. But that same $10,000 invested in gold would be worth over $27,000.
– Peter Schiff (@PeterSchiff) February 24, 2026
In November 2021, you could buy around 34.5 ounces of gold with one Bitcoin, while today you would only get around 12 ounces of gold for one Bitcoin – one BTC has therefore lost purchasing power compared to the precious metal.
Even calculated in US dollars, Bitcoin is worth less today than it was in November 2021. If you had invested $10,000 in the cryptocurrency back then, according to your calculations, the investment would only be worth around $9,100 today. However, if you had invested in gold at the same time, you would now have a sum of around 27,000 US dollars due to the gold price development.
However, critics point out that the chosen starting point for the November 2021 calculation was very poorly chosen. In addition, Bitcoin would have now gained 320 percent from its cycle low of $15,000 in November 2023, while gold would have only recorded an increase of $150 at the same time.
Bitcoin has also proven to be relatively robust in view of the recent escalation in the Iran war: “Despite the ongoing geopolitical tensions and an overall fragile news situation, Bitcoin is remarkably robust,” said Timo Emden, analyst at Emden Research, according to the German Press Agency. “Investors had already increasingly priced in global risks in recent weeks.”
The price of gold, on the other hand, had recently fallen to a low since February. The “crisis currency” had come under pressure, particularly due to dwindling hopes of lowering interest rates, as concerns about inflation had increased again in the face of a prolonged war. The market now expects that the US Federal Reserve will leave interest rates unchanged at its meeting in mid-March.
Editorial team finanzen.net
