Once more, Peter Schiff, a renowned economist and vocal cryptocurrency skeptic, has ignited the perennial Bitcoin versus Ethereum discussion. In a recent tweet, Schiff openly advised investors to sell their Ethereum holdings in favour of Bitcoin after Ether’s price soared past $3,700—a high not seen since January 2024. This price surge has been fuelled by strong institutional inflows and renewed market confidence.
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.
— Peter Schiff (@PeterSchiff) July 21, 2025
On social media platform X, Schiff described the current momentum in Ethereum as “just another phony bubble” within what he sees as a broader bear market for crypto. He stated, “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.” According to Schiff, Bitcoin remains the superior choice, claiming Ether typically trails Bitcoin’s market moves.
Schiff, explaining his approach, said he relies on chart analysis rather than sentiment. While making clear that he is also bearish on Bitcoin, Schiff argued Ethereum’s structural weaknesses are more pronounced due to growing competition from other smart contract and DeFi platforms. He insisted that Ethereum has lost its unique position in decentralised finance, while Bitcoin continues to be seen by many as “digital gold”.
Despite Schiff’s scepticism, Ethereum’s recent rally has been supported by robust demand for spot Ethereum ETFs and significant investments from public companies. Notably, firms such as BitMine and SharpLink Gaming have increased their Ether holdings, with the latter holding over $1 billion in ETH and committing to staking these assets to support the network and generate passive income.
Critics within the crypto community were quick to contest Schiff’s viewpoint. SharpLink Gaming responded directly by editing his post to promote the benefits of staking Ethereum, while analyst Benjamin Cowen argued that Schiff’s warning comes too late, suggesting the ETH/BTC ratio may already have bottomed.
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