Key Takeaways
- Peter Schiff is criticizing Bitcoin again.
- Schiff has the record for most “Bitcoin is dead” calls.
- Some analysts point to potential bullish momentum for Bitcoin.
Longtime Bitcoin critic Peter Schiff has once again taken aim at Bitcoin, reigniting a debate with industry advocates after questioning its long-term performance relative to traditional assets.
The renewed criticism adds another point to Schiff’s lead as one of Bitcoin’s most consistent critics, topping the chart for the most “Bitcoin is dead” calls by a massive margin.
Schiff Renews Criticism of Bitcoin’s Performance
In a post on X, Schiff argued that Bitcoin has failed to live up to its reputation as a superior long-term investment, focusing on comparative returns over the past half-decade.
“Over the past five years, the price of Bitcoin is up by just 12%,” Schiff wrote.
“Over the same time period, the NASDAQ is up 57.4%, the S&P 500 is up 59.4%, gold is up 163%, and silver is up 181%.”
He added: “If the appeal of Bitcoin is its superior long-term performance, why should anyone keep HODLing it?”
A Long History of “Bitcoin Is Dead” Calls
Schiff’s latest remarks are part of a long pattern of bearish declarations.
According to data compiled by bitcoindeaths.com, Schiff has made at least 22 public statements declaring Bitcoin “dead” since 2011 — more than any other tracked critic.
His first such call came when Bitcoin traded near $17.
His most recent declarations, made in early 2026, were in the $60,000–$65,000 range and warned of a potential 85% crash.
This means Bitcoin has grown by more than 4,110 times since Schiff’s first call.
The 22 calls have put him firmly in the lead for the most dead Bitcoin predictions, with Steve Hanke in second place with 10 calls, and Warren Buffett in third place with 8.
Despite these repeated predictions, Bitcoin’s long-term return from Schiff’s first recorded criticism to recent levels remains huge.
Schiff, however, has rejected long-term framing arguments, pushing back against critics who extend the time horizon.
“In five more years… you will want to go back twenty years,” he wrote in response to one user. “Then in ten years you will want to go back twenty-five. When does it end?”
Saylor and Crypto Community Push Back
Strategy Executive Chairman Michael Saylor quickly challenged Schiff’s framing on his most recent call, arguing that the selected timeframe distorts Bitcoin’s performance.
“Timeframes matter,” Saylor said.
“Since August 2020, Bitcoin is the top-performing major asset and it’s not even close. Zoom out further and the gap only widens.”
Schiff dismissed the rebuttal, accusing Saylor of selectively choosing favorable entry points.
“I said five years ago, not five years and eight months ago. Stop cherry-picking low points to make your shitcoin look better,” Schiff replied.
He then called on Saylor for a public debate on Bitcoin, something he has done repeatedly without any bite from the executive.
“Now that I’ve got your attention, care to actually debate Bitcoin? Who wants to moderate? I’m fine if it’s another Bitcoiner. Two against one seems fair,” he wrote.
Why Is Schiff Speaking Out Against Bitcoin Again?
Schiff’s renewed criticism comes at a time when Bitcoin has struggled to claw back gains to its recent all time highs.
It also coincides with a fresh bout of volatility and renewed bullish momentum in Bitcoin, driven in part by macroeconomic and geopolitical developments.
Bitcoin’s rally on April 6 began during Asian trading hours after reports emerged that the United States, Iran and mediators were discussing a potential 45-day ceasefire framework.
The development eased fears of an imminent escalation in the Middle East — a scenario that could have pushed oil prices higher and weighed on risk assets — prompting a swift rebound across crypto markets.
More than $100 million in Bitcoin positions were liquidated over a 24-hour period, with short positions accounting for the vast majority.
Bitcoin loyalists argue that Schiff’s focus on a five-year window — rather than longer-term — reflects a strategic attempt to counter Bitcoin’s strongest argument of outsized gains over extended periods.
Against this backdrop, Schiff’s renewed commentary may reflect an attempt to challenge bullish narratives at a moment when optimism is returning to the market.
Historically, periods of price strength and heightened attention have often prompted critics to reassert bearish views.
Rising Speculation Points to Potential Upside
Meanwhile, on-chain data suggests that market participants are positioning for further gains.
In a recent report, cited by CCN analyst Abiodun Oladokun, CryptoQuant analyst Amr Taha highlighted a sharp increase in speculative activity on Binance, driven by rising derivatives participation.
Bitcoin’s cumulative net taker volume — a measure of aggressive buying versus selling — surpassed $500 million on March 24 and April 1, before climbing further to $595 million on April 6.
At the same time, daily open interest change on Binance rose from $53 million on March 27 to $136 million by April 6.
“The combination matters because it shows that Bitcoin’s move is being supported not only by price strength, but also by renewed speculative participation,” Taha said.
“If this trend continues, it could reinforce short-term momentum.”
According to the analyst, sustained activity could push Bitcoin toward a daily close above $70,000, potentially opening the door to a rally toward $74,000.
Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.
He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.
Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.
At CCN, Kurt’s work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.
