Novogratz Exposes Schiff’s 10-Year Bitcoin Fumble Streak—Here’s Why It Matters in 2025
Gold bug Peter Schiff just got served a decade-long L on Bitcoin—and crypto king Mike Novogratz isn’t letting him forget it. As BTC flirts with new highs, we break down the billion-dollar blunders.
The anti-crypto crusade that backfired
Schiff’s been shorting Bitcoin since your grandma still thought ‘hodl’ was a typo. Meanwhile, the asset’s market cap grew faster than his missed opportunity regrets.
Why 2025’s market makes these warnings obsolete
With institutional adoption at all-time highs and Wall Street finally ditching their ‘digital tulips’ narrative, even the staunchest critics are quietly rebalancing portfolios. Except Schiff—because nothing says ‘financial guru’ like doubling down on a 0% success rate.
Novogratz’s takedown cuts deep: ‘Turns out calling every rally a bubble for 10 years straight isn’t a viable analysis strategy.’ Ouch.
The latest silver push
Then last week, as Bitcoin reached historic levels, Schiff publicly advised investors to sell their BTC and buy silver instead. He claimed that silver offered more upside potential and less risk, positioning the current crypto rally as an ideal exit point for Bitcoin holders. In his words:
“With Bitcoin hitting new highs today (in dollars), it’s a great time to sell some and buy silver ahead of silver’s next big leg up.”
Schiff argued that while Bitcoin could “easily crash,” silver’s downside seemed limited, and he predicted a breakout for the metal above $40, possibly accelerating toward $50.
The numbers tell a different story
Despite Schiff’s persistent warnings about Bitcoin being a “Ponzi” and a “scam,” the numbers continue to undermine his thesis. Bitcoin’s market capitalization now stands at well over $2.2 trillion, ranking it above silver globally.
While silver has seen modest gains, Bitcoin’s price appreciation and adoption have far outpaced the precious metal over the past decade. Despite years of similar bearish calls from Schiff, Bitcoin has defied expectations, growing in both value and mainstream acceptance.
Schiff’s track record
Schiff’s repeated predictions of Bitcoin’s demise have become something of a meme within the crypto community. Every time he urges investors to sell, Bitcoin seems to rally further, prompting some to joke that Schiff is the market’s best “contrarian indicator.”
Even when pressed about what WOULD make him admit he was wrong, Schiff has said only a world where Bitcoin replaces all fiat currencies would change his mind; something he insists is as far off now as it was a decade ago.
The Novogratz exchange
Prominent Bitcoin bull, Novogratz, has frequently sparred with Schiff on social media, highlighting the dramatic difference between their outlooks. Novogratz and others in the crypto space have called out Schiff’s missed calls, pointing to Bitcoin’s relentless rise despite constant naysaying from traditional finance figures.
Schiff’s recent call to sell Bitcoin for silver, just as BTC notched new all-time highs, is just the latest in a long series of misjudgments. While silver remains a respected investment, Bitcoin’s performance, adoption, and market dominance have consistently proved Schiff wrong, showing that betting against Bitcoin is a “fools gold” in itself.
