🚨🔥 BREAKING NEWS 🔥🚨
Peter Schiff, a well-known gold advocate and economist, has expressed his preference for Bitcoin over Ethereum despite Ethereum's recent price rally. Schiff stated he'd choose Bitcoin if he had to pick between the two, even though he has no interest in owning either cryptocurrency. This comes as Bitcoin's market dominance drops to 59.1%, with Ethereum and other altcoins gaining more market share .
Key Points on Schiff's Preference
- *Reason for Preference*: Schiff based his preference on chart patterns, noting Ethereum faces more competition regarding its narrative and use case.
- *Ethereum's Recent Performance*: Ethereum surged to around $4,000, its highest level in 2025, fueled by record inflows into spot Ethereum ETFs and rising institutional interest.
- *Bitcoin's Dominance*: Bitcoin's dominance has decreased from 63.9% a month ago to 59.1%, indicating a rotation of capital into Ethereum and other altcoins .
Reactions to Schiff's Stance
- The crypto community reacted sharply to Schiff's comments, with some mocking his bearish stance on Ethereum.
- Analyst Benjamin Cowen argued that Schiff's bearish call on Ethereum came after the ETH/BTC pair had already bottomed out .