Billionaire says Bitcoin is not a real asset, has no link to gold

• BTC-USD

Peter Schiff posted a direct response on Aug 30 to analyst Quinten François, who had argued that Bitcoin’s opportunity remains intact because it is still a fraction of the size of gold, equities, and real estate.

François had laid out the comparison the previous day. He shared on X that gold is roughly 20 times larger thanBitcoin by market cap, global equities are roughly 100 times larger, and global real estate is more than 250 times larger.

“But somehow people look at Bitcoin and conclude the opportunity is already gone,” he wrote. “The human brain is terrible at understanding scale.”

Schiff’s response was four words longer than his usual dismissals.

“Bitcoin is not a real asset so its value has no relationship to gold, equities or real estate. Why can’t your brain understand that?”

The same call, made for over a decade

Schiff has called Bitcoin a bubble at $1,000, $10,000, $60,000, and again at its $126,000 all-time high in October 2025.

The Euro Pacific Capital CEO has consistently argued that Bitcoin lacks the physical properties, historical track record, and intrinsic use case that make gold a legitimate store of value.

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Gold has gained more than 66% since inauguration day in January 2025, rising from $2,697 to approximately $4,489 per ounce today, a run Schiff has cited repeatedly as evidence that investors seeking a genuine store of value choose gold over Bitcoin.

His one specific 2026 Bitcoin prediction proveddirectionally accurate. Earlier in July, Schiff predicted Strategy‘s Bitcoin yield would turn negative, and it fell from 13.3% on May 25 to 4.5% by late July

Every time Schiff has called it a fraud, the price has ended higher than when he said it. According to Decibel, Bitcoin was trading at approximately $78,800 at the time of writing.

This story was originally published byTheStreeton Aug 31, 2026, where it first appeared in theMARKETSsection. Add TheStreet as aPreferred

Source: finance.yahoo.com