Peter Schiff's Anti-Bitcoin Poll a Major Flop, but He's Still Gaining Traction

Peter Schiff's Anti-Bitcoin Poll a Major Flop, but He's Still Gaining Traction

Summary:
Financial expert Peter Schiff recently faced ridicule after his anti-Bitcoin poll failed to sway opinions against cryptocurrency. Despite his claims, the results showed that a significant majority favor Bitcoin over gold and silver in long-term investments.

Key Takeaways:

Peter Schiff's recent poll on X social media showed 59% of over 21,000 voters prefer Bitcoin to gold (23%) and silver (18%).
Schiff believes that Bitcoin detracts from traditional investments in gold and silver, calling it a "distraction."
He argues that the capital invested in cryptocurrencies would otherwise benefit gold investments, claiming the growth narrative of Bitcoin is misleading.
Since its peak in November 2021, gold has significantly outperformed Bitcoin, achieving a 67% increase year-to-date.

Poll Results Show Support for Bitcoin

In a recent survey conducted on the X social media platform, financial commentator Peter Schiff encountered backlash after 59% of the more than 21,000 participants chose Bitcoin for a hypothetical $100,000 investment by 2028. In contrast, gold garnered only 23% of the votes while silver received 18%. This outcome highlights the ongoing popularity of Bitcoin, even in the face of Schiff's efforts to advocate for gold.

Schiff’s Stance on Bitcoin

Schiff has claimed that Bitcoin investors are driven to participate in such polls to support a positive narrative around cryptocurrency. He expressed that Bitcoin distracts individuals from investing in precious metals like gold and silver. “Bitcoin prevents many from investing in gold or silver," Schiff noted. He believes that money flowing into cryptocurrencies hampers the potential growth of traditional assets.

Criticism of Bitcoin’s Performance

The gold advocate criticizes the cryptocurrency market’s growth, questioning why Bitcoin has lost over 40% of its value in comparison to gold over the past four years. He contends that if Bitcoin were not part of the market, the funds currently invested in it would instead enhance the gold market.

Comparing Market Peaks

Schiff supports his argument by comparing market conditions between November 2021 and December 2025. During this peak, gold was priced around $1,800 per ounce, while it has now surged to approximately $4,400 per ounce. Conversely, Bitcoin reached an all-time high of $69,000 in November 2021 and is now trading around $88,000.

Year-to-Date Performance

Since that peak, gold has greatly outperformed Bitcoin, boasting a year-to-date increase of roughly 67%, driven by central banks' substantial buying and geopolitical tensions. Silver has excelled even further, rising by over 130% in 2025. In contrast, Bitcoin's performance has largely stagnated or seen minimal gains.

In conclusion, while Schiff continues to advocate for gold, the outcomes of recent polls reveal a strong preference for Bitcoin among voters, highlighting an ongoing debate about the future of cryptocurrency versus traditional investment assets.