Longtime Bitcoin critic and gold advocate Peter Schiff said the latest BTC rally may be a selling opportunity for investors to buy silver instead . This recommendation comes as Bitcoin nears $118,000 .
In a Thursday X post, Schiff said, "With Bitcoin hitting new highs today (in dollars), it's a great time to sell some and buy silver ahead of silver's next big leg up" . He claimed that silver has more upside potential than Bitcoin and added that while BTC “can easily crash, silver's downside seems very limited” .
The reaction came amid Bitcoin reaching a new all-time high on Thursday, surpassing $112,000 . At the time of writing, Bitcoin traded at almost $118,000 after seeing its price rally by about 6% over the last 24 hours . OKX CEO Roshan Robert said, “Bitcoin is showing why it's in a class of its own” . According to Robert, while ongoing trade tensions flare and altcoins stumble, institutions are treating Bitcoin as a macro hedge and maturing asset class .
Schiff has never hidden his disdain for bitcoin, famously claiming he'll only admit defeat if the entire world starts pricing everything in BTC . Even as bitcoin soared to a record $118,839 per coin, Schiff has remained unmoved .
While Schiff remains steadfast in his criticism of Bitcoin, others in the crypto community remain bullish. One analyst predicts that Bitcoin could climb to $300K by Christmas, before things start to cool off in early 2026 .
The comparison between Bitcoin and silver is a recurring theme in financial discussions. While Bitcoin has surpassed silver in market capitalization at times , the availability of silver is less clear compared to the supply of Bitcoin .