Peter Schiff calls Bitcoin "anti-gold," urges sale of Bitcoin and Strategy shares

Peter Schiff escalated his criticism of Bitcoin, calling it "anti-gold" and urging investors to sell both the token and Strategy shares as bullion surged above $4,402 an ounce and Bitcoin slipped below $64,000. Schiff said the price action showed an inverse relationship between gold and Bitcoin and argued that Strategy's sale of 1,690 Bitcoin for about $108.6 million at an average $64,262, below its average purchase price of $75,385, signaled pressure on the company; he has also described Bitcoin as a speculative collectible digital token rather than a monetary metal. Crypto analysts pushed back, noting Strategy also raised $653 million through an at-the-market equity offering and now holds $4.65 billion in cash, while Brian Armstrong said the latest weakness does not settle the wider debate over Bitcoin as digital gold.

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