Peter Schiff was quick to consign Bitcoin to the dustbin of history.

Gold investment advocate Peter Schiff explained why he believes Bitcoin has no future.

According to the economist, BTC will become irrelevant due to stablecoins, which perform its functions much more effectively. Specifically, cryptocurrencies pegged to the dollar are better suited for use as a means of payment because their price is stable, while gold-backed digital assets offer a more effective way to protect capital from depreciation.

Bitcoin proponents claim it's always been the best asset to invest in. But in 2025, it's been the worst performer. BTC has fallen 5% since the start of the year. The Nasdaq-100 index has risen 17% during the same period, while gold has risen 53%.

Shares of Strategy, a leading Bitcoin company, have lost 35% of their value in 2025 and are down 65% from their peak in November 2024, Schiff concluded.

This year has indeed been a down year for Bitcoin, but a longer period paints a completely different picture. For example, over the past five years, BTC has appreciated by an average of half a year, while the XAU price has only increased by 118% during this time. However, as Schiff rightly noted, cryptocurrency investment returns are declining, and over the past four years, they have averaged less than 20% per 12 months.

BTC price fluctuations over the past five years

Peter calls for getting rid of Bitcoin before it's too late. However, there's no point in burying a digital asset with a market capitalization of $1.85 trillion, as every bad streak is always followed by a good one. However, given the decline in BTC price volatility and the accelerating upward trend in the XAU market, it makes sense to consider diversifying your investment portfolio by including gold-backed stablecoins.

Source: cryptonews.net