Here's an interesting story that has been unfolding for several years now. Peter Schiff has once again brought up Bitcoin, and this time his criticism sounds even more categorical. This guy is literally obsessed with the idea that Bitcoin is a bubble, and he compares it to gold.

According to his calculations, Bitcoin has fallen 59% from its peak in 2021. Looking at the current price of around $75,000, the picture indeed looks rather bleak for the bulls. Schiff constantly emphasizes that if you measure Bitcoin in ounces of gold, it loses value. Right now, one coin is worth about 15 ounces of gold — and in his opinion, this proves a long-term bear market.

What’s especially funny is that he also found examples like the company Strategy, which holds Bitcoin in its assets. Schiff happily points out the unrealized losses of nearly $900 million. A typical move for such a critic — to find specific victims of his theory and use them as proof.

But here’s where it gets interesting. While Peter Schiff continues his preach about the crash, other analysts and industry representatives see the current situation quite differently. They say it’s just temporary fluctuations in an emerging cycle, not the beginning of the end.

Historically, Schiff has always been on the side of traditional assets — gold, fiat, and everything else you can touch. His constant comparison of Bitcoin to gold is his trademark. He insists that Bitcoin cannot be a reliable store of value because it’s too volatile and lacks a material backing.

The market, as usual, remains divided. Some listen to Schiff and panic, others ignore him and continue to believe in long-term potential. His criticism definitely adds to the discussion in the crypto community, but whether it will shift the sentiment — that’s a matter of time.