Peter Schiff Criticizes US Bitcoin Reserve, Advocates for Gold as Safer Investment
Bitcoin critic and economist Peter Schiff has again targeted Donald Trump’s US Bitcoin Reserve plan, mocking its recent performance amid a broader market slump.
Schiff expressed his belief that the US would be better off financially if it had opted to build a gold reserve instead of relying on Bitcoin, which has suffered a 12% loss since the reserve’s creation in early March 2025.
Schiff’s Bitcoin vs. Gold Argument
In a recent post on X, Schiff criticized the Bitcoin Reserve established on March 6, 2025, pointing out that it has already posted a 12% loss in value. He contrasted this with gold, which has experienced slight price gains over the same period. According to Schiff, had the US chosen gold instead of Bitcoin for its reserve, it would not only have avoided the 12% loss but would now be seeing a 2% gain.
Schiff emphasized that gold remains a safer bet, especially during uncertain economic times. He rejected comparisons to the Biden administration’s previous decision to sell Bitcoin early, claiming that such discussions were irrelevant. In his view, only the performance from the start of the Bitcoin Reserve matters.
Schiff Raises Concerns Over US Economy and Potential Recession
Schiff didn’t stop at criticizing Bitcoin reserves. He also warned about the US economy, drawing attention to President Trump’s tariff policies, which he believes could lead the country into a recession. He cautioned that the stock market has not yet accounted for the damage that could arise from these trade policies.
Schiff warned that equities are still overvalued and that the US could face its worst economic downturn since the Great Depression if a recession occurs. Even a 50% drop in the stock market, he argued, might not be enough to reflect the true scale of the impending crisis.
Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
