Ethereum News Today: Bitcoin Critic Schiff Urges Ethereum Holders to Sell as ETH Surges 25% Amid Institutional Inflows

Bitcoin critic Peter Schiff has issued a stark warning to Ethereum (ETH) holders, urging them to sell their positions and redirect funds to Bitcoin (BTC). The advice comes as Ethereum recently crossed the $3,700 threshold, marking its highest level since January 2024. Schiff, known for his contrarian views on cryptocurrencies, argues that Ethereum’s recent price surge reflects a temporary rebound within a broader bear market rather than a sustainable bull case. “Ether is back near the upper end of its trading range again,” he stated on social media. “If you own any, this is a great time to sell. Selling Ether and buying Bitcoin with the proceeds is a better trade than holding Ether.”

Schiff’s criticism stems from his long-held belief that Bitcoin’s “digital gold” narrative offers greater stability compared to Ethereum’s evolving use cases. He contends that Ethereum’s dominance in smart contract technology is eroding as new blockchain competitors enter the market, diluting its uniqueness. “Ethereum’s use case is no longer unique, and its narrative is slowly eroding,” he added. Despite his disdain for both cryptocurrencies, Schiff maintains that Bitcoin remains the superior asset for preserving value in a volatile market.

While Schiff’s remarks have drawn attention for their pessimism, Ethereum’s price action suggests a different narrative. The token’s surge above $3,700 has been fueled by robust demand from institutional investors and the success of spot Ethereum ETFs. These products have attracted significant inflows, enabling traditional investors to access ETH without direct ownership. Over the past week, ETH has risen more than 25%, driven by technical strength and favorable market developments.

Institutional confidence in Ethereum remains strong, with major players expanding their exposure. SharpLink Gaming, a publicly traded firm, recently added $258 million worth of ETH to its treasury—a move that highlights growing corporate interest in the cryptocurrency. The company also announced plans to stake its holdings, further cementing its commitment to Ethereum’s network. Such actions contrast sharply with Schiff’s bearish outlook, as institutional investors continue to prioritize Ethereum’s role in decentralized finance (DeFi) and blockchain innovation.

Ethereum supporters have dismissed Schiff’s advice as outdated, emphasizing the platform’s resilience and adaptability. SharpLink Gaming itself responded to the criticism by promoting staking initiatives on social media, countering the sell recommendation. “Ethereum may no longer be the sole dominant smart contract platform, but it remains the most battle-tested and widely adopted,” analysts noted. While Schiff’s focus on Bitcoin’s “store of value” appeal persists, the market’s current dynamics highlight Ethereum’s ongoing relevance in a maturing crypto ecosystem.