Peter Schiff’s Unexpected Take on Ethereum vs. Bitcoin
Peter Schiff, the gold advocate who’s spent years dismissing Bitcoin, just made a statement that caught a lot of people off guard. He didn’t suddenly become a crypto fan—far from it. But in a tweet earlier this week, he suggested something unusual: selling Ethereum and buying Bitcoin instead.
Now, Schiff still isn’t endorsing either cryptocurrency. He’s made that clear. But for someone who usually avoids crypto entirely, his reasoning here is worth noting. He thinks Ethereum has hit the top of its trading range and might be due for a drop. Bitcoin, on the other hand, looks stronger to him—at least for now.
Why Schiff Thinks Ethereum’s Run Might Be Over
“Ethereum has reached the upper end of its trading range again,” he wrote. “If you’re holding now, it’s a good time to sell.” Then came the real surprise: “As painful as it is to say, selling Ethereum and using the proceeds to buy Bitcoin is a better strategy than continuing to hold Ethereum.”
That’s not exactly a glowing endorsement of Bitcoin, but it’s something. Schiff’s argument is that Ethereum’s recent price action isn’t the start of a new bull run—it’s just a temporary bounce in what he sees as a longer bear market.
He also pointed out that Ethereum faces more competition than Bitcoin. There are plenty of other platforms trying to do similar things, and that could make it harder for ETH to hold its ground. Bitcoin, meanwhile, doesn’t have that problem. It’s still the default, for better or worse.
Not an Endorsement—Just a Comparison
Schiff was quick to clarify that he wouldn’t personally buy either cryptocurrency. Gold, as always, is his go-to. But if someone *had* to hold crypto, he thinks Bitcoin is the “less bad” choice right now.
It’s a weird position for him to take, honestly. Schiff has spent years calling Bitcoin a bubble, so even this reluctant nod toward BTC is striking. Maybe it’s just a tactical observation—he’s not saying Bitcoin is good, just that it might outperform Ethereum in the short term.
The market reaction has been mixed. Some crypto traders shrugged it off, while others found it interesting coming from a longtime skeptic. Either way, it’s a reminder that even the staunchest critics can sometimes see shades of gray.
*This isn’t investment advice, of course. Just one guy’s take—even if it’s a surprising one.
