Peter Schiff Says Gold's About To Explode—And Bitcoin Will Foot The Bill
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Peter Schiff is back with a golden prophecy—and this time, he thinks Bitcoin (CRYPTO: BTC) holders are going to pay for it.
According to Schiff, the long-time gold advocate and crypto critic, we're nearing "another big leg up" in gold and silver, one that could finally jolt Wall Street out of its digital daze and back into the arms of precious metals. And the kicker?
He believes the first wave of capital flooding into gold and silver stocks will come straight from the crypto crowd.
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Gold's Steady Climb Vs. Bitcoin's Flashy Bounce
It's not an entirely far-fetched notion. Gold is quietly having a banner year. Spot gold (XAUUSD) is up 29.62% year-to-date and 41.55% over the past 12 months—numbers that would typically dominate headlines if not for the louder, more volatile presence of Bitcoin. The SPDR Gold Trust (NYSE:GLD), which invests in spot gold, has consequently witnessed a similar surge.
Bitcoin, by comparison, has surged 75.64% over the past year, including a 16.56% pop just in the last month. Year-to-date, BTC is up 27.69%. Matching the surge are Bitcoin-tracking ETFs such as the iShares Bitcoin Trust ETF (NASDAQ:IBIT) (up 22.28% YTD), the Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) (+22.17% YTD) and the Grayscale Bitcoin Trust (NYSE:GBTC) (+21.19% YTD).
But Schiff argues that crypto's rally is nearing exhaustion and that some profit-taking could soon fund a rotation into "real" assets.
This isn't just a macro rant. Schiff's timing is aligning with growing chatter among institutional investors about gold's role as a geopolitical hedge – especially as central banks continue their buying spree and global tensions simmer.
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The Miners Could Be The Real Jackpot
Schiff doesn't just want you stacking gold bars—he's eyeing the miners. He believes gold and silver mining stocks are poised to surge in lockstep with the metals themselves, a move that could finally draw Wall Street’s attention. The VanEck Gold Miners ETF (NYSE:GDX), the VanEck Junior Gold Miners ETF (NYSE:GDXJ) and the Global X Silver Miners ETF (NYSE:SIL) are popular ways to get exposure to gold and silver miner stocks.
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