Gold Surges Past $3,300 as Bitcoin Drops, Schiff Sparks Debate

• Peter Schiff reignites the Bitcoin vs. gold debate as gold hits $3,300 and BTC drops 2.6%.
• Schiff reignited criticism of Bitcoin, calling it a risk asset compared to gold’s safe-haven role.
• Gold surges amid trade war fears, while Bitcoin struggles to break past technical resistance.

In an unexpected move, gold has soared past $3,300, setting a new record as investors shift away from risk assets like tech stocks and Bitcoin. In a post on X, Peter Schiff reignited the debate, calling Bitcoin the “epitome of risk assets” while highlighting gold’s resilience during market uncertainty.

Schiff’s comments arrive as Bitcoin falls to $83,416.25, marking a 2.67% decline over the last 24 hours. Trading charts show Bitcoin struggled to break above the 2-day MA30 line before turning downward. The current daily candlestick shows a bearish pattern with decreased volume compared to the previous day.

Meanwhile, gold climbed over 20% this year and continues to attract investors during economic uncertainty. Bullion gained as much as 1.89% on Wednesday, hitting $3,291 an ounce for the first time. On the other hand, traders reacted to new tariff headlines after U.S. President Donald Trump launched an investigation into critical mineral imports.

This new trade probe adds to fears of a global recession, triggering investors to seek traditional safe-haven assets like gold. Further, Goldman Sachs predicted that the asset would reach $4,000 an ounce by mid-2026, driven by central bank demand and growing ETF inflows.

Considering the market turbulence, Schiff reinforced his stance, stating that Bitcoin is speculative, lacks real-world utility, and thrives on hype. He argued that only assets like gold preserve value in times of crisis due to their scarcity and industrial use.

Related: Robert Kiyosaki Says Bitcoin, Gold & Silver Can Help You Stay Protected

However, Schiff’s comments were met with criticism from digital asset investors, who stated that though Bitcoin may not behave like a traditional haven, it serves as a long-term hedge. Also, many see BTC as protection against fiat currency devaluation rather than a short-term crisis refuge.

The contrast reveals a growing generational divide in safe-haven strategies. Older investors often turn to gold, a historically reliable asset, while younger investors, more familiar with digital assets, prefer Bitcoin for its decentralized and programmable qualities.

Market data also shows Bitcoin’s futures and spot prices on Binance are nearly equal, suggesting cautious sentiment among traders. Historically, Bitcoin’s momentum strengthens when the futures premium turns positive. That pattern may signal a potential trend shift in the months ahead. As gold rallies and Bitcoin consolidates, the debate over safe-haven leadership intensifies. For now, markets continue to watch both assets closely for the next major move.

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