Peter Schiff Drops Bombshell: ‘Dump Ethereum Now, Stack Bitcoin Instead’

Gold bug turned crypto critic Peter Schiff just flipped the script—with a twist. The Euro Pacific Capital CEO, notorious for his Bitcoin skepticism, is now telling traders to swap ETH for BTC. Cue the market whiplash.

Why the sudden pivot? Schiff’s playing the ‘digital gold’ card—betting Bitcoin’s scarcity narrative will outlast Ethereum’s smart contract hustle. Never mind that both assets just bled 20% last quarter while his precious metals fund flatlined.

One hedge fund manager we spoke to rolled their eyes: ‘Classic Schiff—wrong until he’s right, then takes credit for the weather.’ Meanwhile, ETH/BTC charts show traders have been making this move since June. Nothing like a celebrity endorsement to chase the trade.

Pro tip: When permabears start giving crypto advice, check your wallet—and their track record.

Ethereum, the second-largest cryptocurrency, has been gaining ground lately, trading close to $3,800, its highest level in months. But well-known gold advocate and crypto critic Peter Schiff believes this is the perfect time for holders to exit. 

In his latest post on X, Schiff suggested that ethereum is nearing the top of its trading range and that it might be better to sell it now and use the funds to buy Bitcoin instead. Even though Schiff isn’t a fan of either crypto, he sees Bitcoin as the stronger option for the moment.

Ether is back near the upper end of its trading range again. If you own any, this is a great time to sell. As much as it pains me to say, selling Ether and buying Bitcoin with the proceeds is a better trade than holding Ether.

Ethereum Price Rally Draws Mixed Reactions

The rise in Ethereum’s price is partly due to growing demand from institutions and excitement around Ethereum spot ETFs. In recent weeks, several companies, including BitMine and SharpLink, have added substantial amounts of ETH to their reserves, with some also staking it to earn rewards. Meanwhile, ETH received a major boost during the crypto week, and the passage of three major crypto bills created a strong foundation for the ETH rally. 

It's not as far as I'm concerned. I'm just looking at the charts. But I think based on the way the tokens are hyped, Ether has more acknowledged competition for the narrative of its use case.

However, Schiff’s warning has stirred debate among analysts and investors. Many are questioning whether Ethereum’s rally has gone too far too fast. Schiff pointed out that ETH has struggled to outperform bitcoin lately and that the recent gains may not be sustainable. He said the smarter trade right now could be switching to Bitcoin, especially if Ethereum hits resistance again.

Market Pushback on Schiff’s View

Schiff’s comment sparked reactions across the crypto space. Some argued that Ethereum’s long-term use cases, such as smart contracts and staking, still give it strong upside potential. SharpLink Gaming even responded directly, saying they plan to stake their ETH rather than sell it. Analyst Benjamin Cowen also suggested that the ETH to BTC price ratio had already bottomed before Schiff made his call, meaning the timing might not be ideal.

You had 4 years to say that ETH/BTC WOULD bleed and you finally say it after the bleeding is over. pic.twitter.com/DQQ5HJaidu

People on X even mocked him for giving the same advice for Bitcoin previously. 

Is this you sir?

Cringe pic.twitter.com/NvZb7mYt3V

What investors should watch

Right now, Ethereum is showing strong momentum, but Schiff’s warning is a reminder that price swings can come fast. Traders should watch whether ETH continues to push higher or if resistance NEAR current levels sends it lower. 

If momentum slows, Schiff’s idea of rotating into Bitcoin could gain more support. Either way, the market is clearly at a key turning point, and how Ethereum performs next will likely set the tone for altcoins in the coming weeks.

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