Peter Schiff: Bitcoin is completely in a bubble—its surge is just Wall Street manipulation. Gold is the real safe haven.

Economist Peter Schiff points out that Bitcoin’s rally is driven by Washington and Wall Street, and it will ultimately be doomed to burst. He emphasizes that gold remains a more stable store of value. (Background: Reflecting on Bitcoin in 2025: Why “Digital Gold” Has Disappointed Investors?) (Additional context: 300 days of gold selling in Shenzhen’s Shuibei: Wealth, Desire, and Human Nature in the “Gold Chaos” Era)

After Bitcoin’s price plummeted from its all-time high to the $100,000 level, longtime Bitcoin skeptic economist Peter Schiff once again warns the market that this bull run is fueled by political and capital forces, not just technological evolution. He bluntly states that once external support is withdrawn, this bubble could burst instantly.

Washington and Wall Street are accused of being behind the scenes. Schiff reiterates his skepticism about Bitcoin in an interview, pointing out that the recent surge was the result of policy signals from Washington combined with institutional capital from Wall Street. He believes that political statements and loose monetary policies inject liquidity and risk appetite into the market, creating a “push” on prices. For example, Trump’s frequent signals of friendliness toward crypto at the end of 2024 are typical; however, policy shifts could lead to sharp market corrections.

Schiff also shifts focus to Wall Street. The influx of institutional funds through Bitcoin ETFs and custodial services has provided strong price support. Large investors may even manipulate prices within certain ranges to shake out retail traders chasing gains, which conflicts with Bitcoin’s vision of decentralization and deepens concerns about market manipulation.

The Battle for Safe-Haven Assets: Gold vs. Bitcoin Amid global economic uncertainty, investors seek stable stores of value. Schiff insists that gold has inherent advantages due to its history, scarcity, and physical properties. He states, “Bitcoin will eventually go to zero; gold is the true safe haven.” In his view, Bitcoin lacks measurable intrinsic value and is mainly driven by market sentiment. Once confidence wanes, its price could collapse rapidly. Conversely, gold demonstrates resilience during USD weakness or de-dollarization efforts by central banks.

Conclusion: Cold Reflection in a Bull Market Schiff’s arguments may not be immediately proven, but they add a cautious perspective to the overheated Bitcoin market. He reminds investors that whether through technological innovation or policy benefits, ultimately, demand and risk management matter most. If Washington shifts policies or big Wall Street players withdraw, Bitcoin prices could face severe corrections. For asset allocators, it’s important to consider traditional safe-haven assets alongside new financial instruments.

Related Reports:

• Meme Coin Alchemy? Junk.Fun Launches—Can It Turn Solana’s Meme Coin Graveyard into Gold?
• Gold Guru Peter Schiff Declares War on CZ: BTC Will Ultimately Go to Zero, “Tokenized Gold” Is the Digital Return of Money
• From Trustless BTC to Tokenized Gold: Who Is the True “Digital Gold”?

This article was originally published on BlockTempo, a leading blockchain news media outlet.