Peter Schiff, a prominent and long-standing critic of Bitcoin, has not held back in his harsh assessments of the cryptocurrency even as we move into 2026. This comes despite the optimistic trends that have been emerging across the crypto landscape since the beginning of the year.
On January 5th, Schiff voiced fresh objections to a theory regarding Bitcoin’s potential surge, labeling it a “false narrative” propagated by Tom Lee, co-founder of Fundstrat and often referred to as CNBC’s go-to advocate for Bitcoin.
Peter Schiff on Gold’s Performance and Its Impact on Bitcoin
Recently, Tom Lee suggested that significant rallies in precious metals such as gold and silver typically precede bullish phases in cryptocurrency markets. However, Peter Schiff contends that this correlation does not hold true.
Despite Tom Lee’s assertion that gold reaching new heights is “bullish for Bitcoin,” which has found favor among many within the crypto community, Schiff remains unconvinced. He argues that Bitcoin’s growth over the last decade was primarily fueled by gold’s lackluster performance during those years.
Schiff pointed out that according to Lee’s perspective, rising gold prices are often indicative of increasing fears about inflation and currency devaluation; thus driving interest towards Bitcoin and other digital currencies over time.
Silver $SLV parabolic in past month
Gold $GLD parabolic in past yearGold moves lead crypto
If these large commodity markets make such a move, how can one be skeptical of digital assets in 2026? $ETH $BTC pic.twitter.com/ko7BmRbRW5
— Thomas (Tom) Lee (not drummer) FSInsight.com (@fundstrat) December 31, 2025
Schiif highlighted instances when Bitcoin experienced substantial growth while gold remained stagnant. He believes this scenario allowed Bitcoin to position itself as a superior hedge against inflation and an alternative safe haven asset.
The recent increase in gold prices challenges this notion further; Schiff reaffirms his stance by stating that calling Bitcoin “digital gold” is inaccurate at best.
Peter Schiff continues to caution against investing in Bitcoin. He emphasizes that its perceived success largely hinges on gold appearing stagnant or outdated; thus subtly exposing what he sees as an inherent lack of real value within BTC. According to him, these circumstances illustrate why he considers bitcoin an inadequate store of value.