Peter Schiff Favors Bitcoin Over Ethereum Despite ETH Rally
Peter Schiff, the economist and gold advocate, has reiterated his preference for Bitcoin over Ethereum despite Ethereum’s recent price surge to about $4,200 and strong inflows into Ethereum ETFs. He stated that while he holds neither digital asset, he would choose Bitcoin for its long-term stability and predictability, contrasting it with Ethereum’s volatility. Schiff also argued that Michael Saylor’s MicroStrategy would have been stronger if it had diversified into gold alongside its Bitcoin acquisitions. This comes as Bitcoin’s market dominance dipped to 59.1% and Ethereum’s climbed to 13%, with institutional inflows of $461 million into Ethereum ETFs compared to $403.9 million into Bitcoin ETFs. Traders should watch how Schiff’s endorsement influences Bitcoin sentiment and price action, even as Ethereum and other altcoins continue to draw capital.
Bullish
Peter Schiff’s public endorsement of Bitcoin over Ethereum amid an ETH price surge and robust ETF inflows is likely to bolster Bitcoin sentiment, driving bullish momentum in both short and long term. His emphasis on Bitcoin’s predictability and stability may attract risk-averse investors, while pointing out Ethereum’s volatility could temper ETH’s price gains. Historical precedents show that high-profile endorsements can spur immediate buying pressure on Bitcoin, and Schiff’s gold advocacy underlines a defensive investment approach that aligns with Bitcoin’s store-of-value narrative. Over the longer horizon, sustained institutional inflows into Ethereum ETFs may continue supporting ETH, but Schiff’s stance reinforces Bitcoin’s dominance and may catalyze renewed capital rotation towards BTC.