Economist and long-time Bitcoin skeptic Peter Schiff has reportedly referred to Bitcoin as “digital gold”, marking a potential shift in his long-standing criticism of the cryptocurrency. This statement, which surfaced on March 2, 2025, has sparked widespread discussion within the financial and crypto communities.



A History of Bitcoin Skepticism :

Schiff, a strong advocate for gold and silver, has spent over a decade dismissing Bitcoin as a speculative asset with no intrinsic value. He has frequently contrasted Bitcoin’s digital nature with gold’s physical backing, arguing that the cryptocurrency lacks long-term stability. In a February 2024 post on X, Schiff explicitly rejected the idea of Bitcoin as “digital gold,” calling it instead “digital anti-gold” due to its price fluctuations and perceived dependence on dollar strength.


Over the years, Schiff’s critiques have positioned him as one of Bitcoin’s most prominent detractors. He has warned investors about Bitcoin’s volatility, repeatedly predicting its decline while emphasizing gold’s historical reliability as a store of value.



A Shift in Perspective?

On March 2, 2025, multiple posts on X claimed that Schiff referred to Bitcoin as “digital gold,” with some suggesting he even discussed the possibility of a Bitcoin reserve. However, the exact context remains unclear—whether it was a serious endorsement, a nuanced argument, or a sarcastic remark.

This statement, if genuine, comes at a time when Bitcoin is increasingly compared to gold by institutional investors. Its fixed supply and growing role as an inflation hedge have fueled mainstream adoption, challenging traditional views on asset preservation.


What It Could Mean:

If Schiff is indeed acknowledging Bitcoin’s parallels to gold, it could signal a softening of his stance, possibly influenced by Bitcoin’s resilience and acceptance in global markets. The “digital gold” analogy has been central to Bitcoin’s investment thesis, highlighting its scarcity (21 million supply cap) and hedging potential—attributes long associated with gold.



However, without a direct, verifiable statement from Schiff himself, skepticism remains. Given his history of doubling down on anti-Bitcoin arguments, this could be a misinterpretation or a remark taken out of context. Similar claims have surfaced in the past, only for Schiff to later reaffirm his opposition to Bitcoin.

The Broader Impact:

Regardless of Schiff’s exact intent, the discussion underscores Bitcoin’s growing legitimacy. Traditional financial figures who once dismissed it outright are now being drawn into debates about its role in global finance. Whether this marks a genuine change in Schiff’s outlook or simply a passing remark, it highlights how Bitcoin’s position continues to evolve, even among its most vocal critics.


As the story unfolds, the financial world will be watching for any further clarification from Schiff himself. Will he expand on this perspective, or will he reaffirm his long-standing skepticism? For now, the debate over Bitcoin’s status as “digital gold” is more active than ever. $BTC