Overview
- Peter Schiff posted on June 24 that gold’s recent selloff is a buying opportunity and that Bitcoin’s concurrent decline is a bubble deflating.
- Bitcoin fell below $60,000 this week for the first time in about 20 months and has dropped more than 52% from its October 2024 peak near $126,198.
- Gold has pulled back sharply since a 2025 rally, including a more than 13% monthly fall in March and a roughly 24% decline since the Iran war began.
- Citigroup warned in June that gold could fall another roughly 20% by September, adding institutional downside risk that complicates any expected flow of money into crypto.
- The dispute matters for investors because it leaves unclear whether losses will push capital between safe havens and crypto and forces individuals and funds to choose between buying the metal, reducing exposure, or waiting for clearer signals.