Peter Schiff Urges Investors to Dump Bitcoin for Gold Stocks Amid Market Turmoil

Financial commentator Peter Schiff, known as "Dr. Doom" for accurately predicting the 2008 financial crisis, has issued a bold investment recommendation: sell all your Bitcoin and shift into gold mining stocks. Schiff argues that Bitcoin is "the epitome of risk assets," and its recent sell-off supports his thesis as gold continues to post new record highs. On Tuesday, the precious metal soared to a new all-time peak of $3,291, while Bitcoin hovered at $83,445 on the Bitstamp exchange, facing pressure ahead of another weak session for U.S. equities. The E-mini S&P 500 futures were down 1.5%, weighed by ongoing concerns over tariffs.

Schiff, co-founder of Echelon Wealth Partners, claims that betting on gold mining stocks over crypto is “the best trade you can make right now.” Meanwhile, he continues to criticize Bitcoin, recently creating a satirical “strategic reserve” that holds only 0.055 BTC (around $4,600). He stated he has no plans to sell the reserve, allowing it to collapse to serve as “an example of what not to do.”

Schiff has also taken jabs at MicroStrategy’s Bitcoin-heavy strategy. Mocking its name change, he joked that “they should’ve called it Micro,” hinting at the company’s volatile stock price. However, Bloomberg analyst Eric Balchunas pointed out that MicroStrategy’s stock has actually outperformed tech peers in 2025.

While Schiff maintains his bearish view on Bitcoin—predicting a possible crash to $10,000—some market watchers remain bullish. Whale accumulation has hit the highest levels since April 2024, suggesting long-term confidence. But with gold hitting historic highs and traditional markets stumbling, Schiff's call to rotate into gold miners is gaining attention from cautious investors.