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Peter Schiff Puts Bitcoin and Strategy Under Pressure as Gold Rises

Schiff sees the gold rally as proof that capital is shifting into hard assets, while Bitcoin is lagging behind. Strategy sold BTC again to buy back shares.

By Mike Hesp
• 3 min read
Peter Schiff Puts Bitcoin and Strategy Under Pressure as Gold Rises

Key Takeaways

  • Peter Schiff is urging investors to avoid Bitcoin and Strategy shares as gold rises above $4,400 per ounce.
  • Silver reached $65.84 per ounce, while Bitcoin barely benefited from the rally in precious metals.
  • Strategy sold 1,690 BTC for $108.6 million and cut its Bitcoin holdings to 840,447 BTC.

Peter Schiff is urging investors to avoid Bitcoin and Strategy shares as gold breaks above $4,400 per ounce. The well-known gold bull says capital is flowing back into hard assets, while Bitcoin is barely moving with the rally in precious metals.

Gold and Silver Move Higher

Gold traded at $4,402.43 (€3,810) per ounce early Tuesday, up 0.28% on the day. Over the past month, it has risen 6.78%, and over the past year it is up about 29.6%.

Silver touched $65.84 (€57), its highest level in seven weeks. On a yearly basis, it is up nearly 74%. According to the market, demand this year was partly driven by Chinese institutional demand and continued buying by central banks.

The recent gains followed weak U.S. jobs data, which cooled expectations for further rate hikes by the Federal Reserve. Bitcoin barely benefited from that same repricing, and Schiff sees that not as a coincidence but as a structural difference between the two assets.

Schiff Stays Bearish on Bitcoin

Schiff has long called Bitcoin an anti-gold trade. He points out that, in his view, Bitcoin often underperforms when gold is rallying, and that the latest move once again fits that pattern. In his words: when gold is in rally mode, Bitcoin resumes its decline.

That criticism is not new. Schiff has often compared Bitcoin with historic speculative bubbles, including the Dutch tulip mania. He has also argued before that tokenized gold would be a more practical and stable alternative to Bitcoin as a store of value.

That keeps the debate over Bitcoin’s relationship with traditional markets open. Schiff has also pointed to the idea that the link with the Nasdaq weakened in 2026, because Bitcoin fell while stocks rose.

Strategy Sells BTC Again

The warning came a day after Strategy confirmed another Bitcoin sale. The company sold 1,690 BTC last week for $108.6 million (€94 million), at an average price of $64,262 (€55,600) per coin after fees. The proceeds were used to buy back STRC shares, preferred stock that is still trading below par.

In addition, Strategy raised $653.1 million (€565 million) through 6.59 million common shares. That lifted its dollar reserve to $4.65 billion (€4 billion) as of August 9, while its Bitcoin holdings fell to 840,447 BTC.

For European crypto followers, the key point is that the market is seeing two stories at once here: a strong gold rally and a large publicly traded Bitcoin holder freeing up liquidity. That makes the debate over Bitcoin as digital gold relevant again, especially as investors seem more sensitive to macro data and rate expectations. Strategy Sells 1,690 Bitcoin and Raises $653 Million confirms that shift toward more cash and less direct BTC exposure.

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