Bitcoin hit a new all-time high today, but American stockbroker Peter Schiff isn’t impressed. The longtime crypto critic doubled down on his anti-Bitcoin stance, calling it a perfect time to sell and switch to silver.
According to Schiff, Bitcoin remains a risky bet, while silver offers more upside and minimal downside. This fresh dig from Schiff comes amid rising institutional interest in crypto assets, making his warning even more provocative.
In a subsequent post on X, Schiff pointed out that silver prices have crossed $37 and are pushing towards $40. According to him, a quick rally to $50 is inevitable. Besides, he argued that silver mining stocks are still undervalued and are not yet pricing in the next leg up.
In a different perspective, he argued that Bitcoin is merely a “distraction” driven by speculation and unrealistic expectations. Schiff went on to criticize companies that hold Bitcoin in their treasuries, suggesting that their only strategy is to deceive “naive” investors.
Corporates Ignore Schiff, Dive Deeper into Crypto
Despite Schiff’s concerns, corporate crypto adoption is heating up. Over 100 public companies now hold Bitcoin, with BlackRock and MicroStrategy leading the charge. Combined, they control nearly 1.3 million BTC—roughly 6% of the total supply. Meanwhile, Japanese firm Remixpoint raised $215 million to buy more Bitcoin.
Moreover, European companies are joining the wave. Germany’s Nakiki SE adopted a Bitcoin standard, and Sweden’s H100 Group bought nearly 47 BTC.
China’s Nano Labs is also considering buying 10% of BNB’s circulating supply. Additionally, GameSquare just added 1,818 ETH and plans a $100 million Ethereum investment.
Furthermore, as reported by The Hill, Senator Elizabeth Warren once again emphasized stronger oversight in cryptocurrency. She raised concerns about Republican initiatives that might undermine financial protections. Warren also highlighted the necessity of maintaining traditional financial regulations to avoid chaos in the markets.
Also Read: How High Can Bitcoin Price Go if Corporate BTC Holdings Hit $100B?
