Key takeaways
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Schiff urges Bitcoin holders to sell above $90,000.
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The economist remains bullish on precious metals despite the volatility.
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Schiff accused Wikipedia of publishing false and defamatory statements on his biography page.
Veteran gold advocate and longtime cryptocurrency critic Peter Schiff urged investors to sell Bitcoin as it climbed back above $90,000 on Monday, arguing that the rally offered another opportunity to exit the market.
The comments followed a public accusation by the economist that Wikipedia was publishing “false and defamatory” statements about him.
Schiff made strong claims that Wikipedia editors “cover up government crimes” and spread “false information to promote a radical left-wing agenda.”
On Monday, Schiff took to X to once again urge anyone holding Bitcoin to sell, despite the market price jumping above $90,000.
“Bitcoin is back above $90,000. Another opportunity to sell,” Schiff wrote, reiterating his long-held view that BTC lacks intrinsic value.
In response to a user who argued that Bitcoin and Gold represent the same macro trade, Schiff responded by saying that the two assets behave very differently.
“They are actually the opposite trade,” he wrote, adding that the correlation between gold and Bitcoin is negative.
Schiff also took advantage of the holiday period to reaffirm his bearish stance.
On Boxing Day, he wrote: “Merry Christmas, HODLers. After all, Santa gave you a Christmas present: a Bitcoin rally to sell.”
Schiff has repeatedly defended his belief that gold and silver are true stores of value, while Bitcoin and other cryptocurrencies are nothing more than a “Ponzi scheme.”
As always, Schiff continued his bullish rhetoric around precious metals.
On Sunday, December 28, the price of silver per ounce reached $84, representing a 170% increase so far this year.
As a result, the market capitalization of precious metals surpassed that of NVIDIA, becoming the second most valuable asset in the world behind gold.
“Well, that didn’t take long,” Schiff wrote after a sharp drop in silver prices on Monday.
As prices continued to fall, Schiff updated his opinion again, suggesting that silver was approaching potential support levels.
He later added that despite its recent volatility, silver had found its stable recovery section.
“This historic bull market still has a long way to go,” he wrote.
Despite the sell-off, some analysts say silver’s broader technical structure remains intact.
