Peter Schiff: Bitcoin Must Hit $148,000 to Match Gold’s Performance

Bitcoin is rewriting history once again. The world’s largest cryptocurrency has surged to a new all-time high of $126,198, with its market capitalization surpassing $2.5 trillion for the first time. Yet, gold advocate and economist Peter Schiff insists this rally is merely a “bear market bounce” — a temporary rebound, not the start of a long-term uptrend. According to Schiff, Bitcoin still lags behind gold, which recently climbed to a record $4,000 per ounce. To match gold’s performance, Schiff says, Bitcoin would need to trade around $148,000.

“This Bitcoin Rally Is Deceptive,” Says Schiff Schiff pointed out that while Bitcoin’s price has reached record highs, it’s still about 15% below its previous peak when measured in gold terms. “Based on the current gold price, Bitcoin would have to rise to roughly $148,000 to reach its prior record level,” he said.

The economist characterized the current surge as “just a bear market rally,” not the beginning of a lasting bull run. His remarks come as markets anticipate another Federal Reserve rate cut, which has fueled optimism among investors in risk assets like cryptocurrencies.

Gold Keeps Pace — and Leads Gold has been on an impressive run in 2025, becoming an asset class worth over $27 trillion. While Bitcoin has surpassed its own highs, it remains roughly ten times smaller in total value. According to Ecoinometrics, both Bitcoin and gold remain the top-performing assets among major investment classes.

Bitcoin continues to lead in total returns, while gold holds the advantage in risk-adjusted performance — offering more stability and protection against volatility. Analysts say this trend reflects a growing investor preference for tangible assets amid ongoing macroeconomic uncertainty and geopolitical tensions.

Fed Under Fire as Gold Strengthens Peter Schiff also warned that the Federal Reserve’s current policy is misguided.

“The rise in gold prices is a clear warning. The Fed needs to reverse course immediately, raise rates between meetings, and signal that more hikes are coming,” Schiff stated. While Bitcoin benefits from optimism around looser monetary policy, gold is gaining from investors’ long-term inflation fears and declining trust in the U.S. dollar.

Bitcoin vs. Gold: The Battle of Giants Both assets are now viewed as safe havens, but they represent different eras of wealth preservation.

Gold remains the traditional store of value, while Bitcoin stands as the symbol of digital monetary freedom. Market analysts agree that if Bitcoin maintains its current momentum, $150,000 by the end of 2025 is entirely within reach.

However, Schiff maintains that until Bitcoin matches gold’s performance and stability, it will remain, in his words, “a digital gamble, not digital gold.”

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