Schiff Slams Trump’s Bitcoin Reserve Move
The Essentials at a Glance
Peter Schiff, a well-known gold advocate and long-time Bitcoin critic, has once again spoken out against cryptocurrencies. The trigger was Donald Trump’s decision to establish a strategic Bitcoin reserve for the United States. Schiff sharply criticized the move, arguing that gold would have been the better choice—especially in light of current market volatility and recession fears.
Schiff Criticizes Trump’s Bitcoin Strategy
On March 6, 2025, Donald Trump announced the creation of a strategic Bitcoin reserve. Since then, the value of this reserve has dropped by over 12%, according to Schiff. He claims that switching to gold would not only have avoided this loss but would have even yielded a 2% gain. In a post on the platform X (formerly Twitter), Schiff stated: “Had the government bought gold instead, we’d be in a better financial position today.”
Gold as a Safe Haven?
Schiff views gold as a more reliable hedge in economically uncertain times. He points to the recent price fluctuations of Bitcoin and emphasizes that gold has shown stable performance over the same period. For him, gold is a better long-term safeguard against inflation and economic crises.
Reactions from the Crypto Community
The crypto community responded quickly to Schiff’s comments. One user on X countered: “You’ve backed gold for 15 years and barely seen any returns. Now that you’re right once, you want to use it as proof.” Many still see Bitcoin, despite its volatility, as a future-proof investment with long-term potential.
Recession Fears in the Background
Schiff’s criticism doesn’t come without context. He warns of a potential severe recession in the U.S.—possibly the worst since the Great Depression. According to the forecasting platform Polymarket, the probability of a U.S. recession in 2025 currently stands at 65%. Schiff also sees a potential 50% correction in the stock market as an additional risk.
The Role of the U.S. Federal Reserve
The discussion also touched on the role of the Federal Reserve (Fed). Schiff sarcastically commented on the hope for an economic rescue through interest rate cuts. Trump himself recently urged Fed Chair Jerome Powell to lower rates, accusing him of playing political games.
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Bitcoin Withstands the Criticism – For Now
Despite the criticism, Bitcoin has recently shown some recovery. Its price rose 7% to over USD 81,000. However, uncertainty remains high. Price fluctuations and economic outlooks continue to cause nervousness among investors.
Our Assessment
Peter Schiff remains consistent in his stance: gold over Bitcoin. His arguments are based on short-term price developments and a conservative investment philosophy. But Bitcoin is more than just a speculative asset—it’s a technological concept with long-term potential. The debate highlights how sharply opinions differ. Anyone investing in cryptocurrencies should be aware of the risks, but also not overlook the opportunities. The choice between gold and Bitcoin ultimately comes down to strategy—and trust in the future.
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