Peter Schiff says BTC slide reflects bubble collapse, urges investors to buy gold

Peter Schiff, CEO of Euro Pacific Capital and a prominent Bitcoin critic, said on X that BTC’s price decline reflects a collapsing bubble and that investors should buy gold instead of BTC. Schiff added that BTC has fallen 22% over the past seven weeks and shows no sign of ending its downtrend. The market is slipping gradually without a clear fear-driven sell-off or large-scale capitulation, he said. Schiff also estimated the average entry price for investors in U.S. spot BTC ETFs at around $77,000, implying an 11% loss at the current price of $68,500. If investors begin accepting losses and exiting the market, that could create additional selling pressure, he added.