Peter Schiff Calls Bitcoin's Comparison to Gold a 'Misconception', VanEck CEO Says Own Both

Peter Schiff doubled down on his Bitcoin(CRYPTO: BTC) criticism, arguing it should not be viewed alongside gold and silver, while VanEck‘s CEO took the opposite view, saying Bitcoin’s correction offers an attractive buying opportunity.

Schiff Rejects Bitcoin Comparison

In an X post on Aug. 11, Schiff said Bitcoin investors are making a mistake by grouping BTC alongside gold and silver.

"Bitcoin is a highly speculative collectible digital token. It’s not a monetary metal," Schiff said.

In a separate post, Schiff highlighted the divergence between precious metals and risk assets, noting that gold and silver were rising while stocks, bonds and Bitcoin were selling off.

He argued that geopolitical conflict and inflation remain bullish catalysts for precious metals and urged investors to increase exposure while prices remain accessible.

Schiff’s comments reinforce his long-standing view that gold and silver offer monetary properties Bitcoin cannot replicate.

Van Eck Sees Accumulation Opportunity

In an interview with Milk Road last week, CEO Jan Van Eck, said Bitcoin and gold are distinct assets but tend to benefit from some of the same long-term macro forces.

Van Eck had entered 2026 expecting a difficult year for Bitcoin but now believes the cryptocurrency has already absorbed much of that downside.