Bitcoin News Today: Schiff Chooses Bitcoin Over Ethereum in Forced Scenario Despite Skepticism

Peter Schiff, a well-known economist and longtime gold advocate, has recently made a surprising statement regarding his preference between Bitcoin and Ethereum under extreme conditions. In a post on X, Schiff said that if forced to choose an asset under threat — metaphorically with a gun to his head — he would pick Bitcoin over Ethereum [1]. Despite his well-documented skepticism toward cryptocurrencies, Schiff clarified that while he has no personal interest in owning either, Bitcoin would be his choice in a forced scenario [1]. This remark has sparked renewed discussion about Bitcoin's standing in the digital asset space and its perceived value compared to other cryptocurrencies.

Schiff’s statement comes amid a period of heightened activity in the crypto market, particularly for Ethereum. The altcoin recently surpassed $4,000 in value, fueled by whale transactions and increased derivatives trading activity. Ethereum’s recent performance even outpaced Bitcoin’s percentage gain over the previous week, drawing attention from investors and traders [1]. However, despite Ethereum’s strong showing, Bitcoin remains the largest cryptocurrency by market capitalization and continues to benefit from institutional adoption and spot ETF inflows. It is currently trading above $100,000, supported by corporate treasury buying and bullish market expectations [1].

Bitcoin’s market dominance, however, has experienced a slight decline, dropping to 59% as of the latest data from CoinMarketCap — down 4.90% from the previous month. Ethereum’s share has risen to 12%, reflecting a 3.25% increase over the same period, while altcoins as a group now capture 25% of the market [1]. The decline in Bitcoin dominance is notable given that it hit a yearly high of 65% on June 27, 2025, before gradually receding in the following weeks. This trend suggests a shift in market sentiment, with investors showing greater interest in altcoins and Ethereum in particular.

Schiff’s conditional endorsement of Bitcoin highlights a subtle but significant evolution in the perception of digital assets among even the most vocal critics. While he has long argued for gold as a superior store of value, his recent comments indicate that he now sees Bitcoin as a credible alternative — at least in a worst-case scenario [1]. This does not necessarily reflect a broader acceptance of Bitcoin as a long-term investment, but it does signal that even skeptics are beginning to acknowledge its role in the evolving financial landscape.

The market is now watching to see whether such public remarks will influence investor sentiment, especially among those traditionally aligned with tangible assets. Given the ongoing debate between Bitcoin and gold as stores of value, Schiff’s stance may serve as a catalyst for further discussion about the merits of each in times of economic uncertainty. While his position is not a full endorsement of Bitcoin as an investment vehicle, it does suggest that the lines between traditional and digital assets are continuing to blur.

Source:

[1] https://www.newsbtc.com/news/bitcoin/vocal-gold-promoter-says-hed-choose-bitcoin-when-threatened-with-a-gun-to-the-head/