Peter Schiff Dismisses Bitcoin Supply: Here’s What Really Matters in 2025

Gold bug Peter Schiff just fired another salvo at Bitcoin—claiming its fixed supply is irrelevant. Here’s why he’s missing the bigger picture.

The Scarcity Smokescreen

Schiff argues supply alone doesn’t create value. Tell that to the collectors paying millions for rare postage stamps.

Liquidity Trumps Theory

While gold languishes in vaults, Bitcoin’s 24/7 markets process billions daily—proving utility beats textbook economics.

A Hedge Against Human Nature

Decentralized protocols don’t care about Schiff’s opinions. Code-enforced scarcity versus central bank printers? The market’s already voted.

Funny how goldbugs suddenly become Keynesians when crypto’s involved. Maybe those paper losses are getting heavy.

Scarcity perception versus reality debate

Bitcoin’s scarcity stems from perception rather than fundamental limitations, Schiff says. The 100 million satoshi subdivision per Bitcoin creates an arbitrary psychological framework that influences investor behavior.

The economist suggested that redenominating Bitcoin to show 21 billion total units instead of 21 million WOULD expose the artificial nature of the scarcity narrative. His argument targets the mathematical basis for Bitcoin’s store-of-value proposition.

Gold has taken a temporary pause. Meanwhile silver is beating Bitcoin. I own silver too.

When confronted about Bitcoin’s recent price performance relative to gold, Schiff dismissed the comparison by noting that “gold has taken a temporary pause. Meanwhile silver is beating Bitcoin. I own silver too.”

Bitcoin is classified as a risk asset

Schiff categorized Bitcoin as a risk asset that rallies alongside technology stocks rather than functioning as a safe haven. He pointed to Nvidia hitting record highs and the QQQ ETF trading near all-time highs as evidence of Bitcoin’s correlation with speculative investments.

“CNBC is once again touting Bitcoin’s recent outperformance of gold. But Bitcoin is a risk asset — it rallied with tech stocks,” Schiff wrote. He argued that gold’s sideways trading shows its safe-haven status during risk-on market conditions.

CNBC is once again touting Bitcoin's recent outperformance of gold. But Bitcoin is a risk asset — it rallied with tech stocks. $NVDA hit a new record high today. The $QQQ is barely off its record high set Wednesday. In that environment, gold — a SAFE haven — has traded sideways.

The economist highlighted silver’s approach to $38 per ounce, reaching the highest level since March 2012. He also noted that precious metals mining stocks remain subdued because “investors are being distracted by Bitcoin.”