The price of bitcoin has been going through a rough patch post the announcement of tariffs by the US President.
Gold reached $3,080 on March 28, 2025, coinciding with Schiff’s most recent remarks. The price of bitcoin (BTC) fell to $83,865, a decrease of 4.12% in the last 24 hours, while the price of gold reached a record $3,080. Economist and crypto skeptic Peter Schiff takes this as proof that he is right.
Criticism Continues
After the American video game retailer’s shares fell by more than 2%, Schiff blasted GameStop for their Bitcoin investment. The cryptocurrency industry is divided over GameStop’s recent plans to use proceeds from a convertible debt issue to finance the retailer’s planned Bitcoin acquisitions. While several investors have voiced their approval of the decision, Peter Schiff has been the most vocal opponent.
He claims that a short-lived price surge occurred as a result of FOMO-driven purchasing caused by the publicity around GameStop’s Bitcoin flip. Schiff, nevertheless, said that investors who do not consider Bitcoin a sustainable long-term investment have started to sell as the company lost its fast gain for the day. He said that those selling their $GME were “smart.”
Gold reached $3,080 on March 28, 2025, coinciding with Schiff’s most recent remarks. The weakening of the dollar and inflation exceeding the Federal Reserve’s 2% objective are the macroeconomic concerns he cites as causes of the increase.
Gold is shining, while U.S. equities and bonds are falling with Bitcoin. According to Schiff, the rise in gold prices is due to certainty on the dollar’s future, not chaos.
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