Peter Schiff Left Unfazed As Bitcoin Spikes Above $110,000, Doesn't Agree His Legacy Is Destroyed: 'I'll Eventually Be Proven Right'

Economist Peter Schiff remained skeptical about Bitcoin’s BTC/USD surge past $110,000 Monday, insisting that he will eventually be proven right about the apex cryptocurrency’s downfall.

What Happened: Schiff took to X to comment on Bitcoin’s latest rally, asking, “Bitcoin is back above $110,000, what’s up with that?”

Soon critics swarmed on Schiff’s post, mocking his Bitcoin skepticism. “It will soon be above the [market cap] of Gold and there's nothing you can do about it,” said one user with a pseudonym CRYPTOWARRIOR.

I don’t have to do anything about it. It’s extremely unlikely to ever happen, especially with gold’s market cap rising. I’ll eventually be proven right,” Schiff replied.

Another X user Grams told Schiff that his legacy stands “destroyed” due to his wrong predictions about Bitcoin. However, the gold bug said he will “eventually be proven right.”

See Also: Anthony Pompliano Says Bitcoin’s Endgame Is Hyper-Bitcoinization

Why It Matters: Schiff’s remarks in the wake of Bitcoin’s sharp rally on Monday, where it spiked above $110,000 after a two-week gap. This surge followed trade talks between the U.S. and Chinese officials, which could have stoked investor optimism.

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Schiff’s skepticism towards Bitcoin is not new. He has previously referred to Bitcoin as a “digital risk,” especially during times of economic uncertainty. During’s Bitcoin downturn in April, he predicted that the financial turmoil of 2025 could mark the end of Bitcoin. Since then, the apex cryptocurrency has risen 32%.

Interestingly, Schiff said in a recent podcast that his teachings on economics inadvertently led many to invest in Bitcoin, despite his advice against it. He stated that many attendees of the Bitcoin 2025 conference credited him as the reason they bought the leading cryptocurrency.

Price Action: At the time of writing, BTC was exchanging hands at $109,466.62, up 3.74% in the last 24 hours, according to data from Benzinga Pro. Since the beginning of 2025, the apex cryptocurrency has gained 15.94%.

Meanwhile, gold-backed cryptocurrencies such as Tether Gold XAUT/USD and PAX Gold PAXG/USD were little changed, down 0.01% and 0.02%, respectively in the last 24 hours.

SPDR Gold Trust ETF GLD. the largest gold exchange-traded fund, closed 0.47% higher at $306.62 during Monday’s regular trading session. Year-to-date, it has risen 26%. The ETF shares exhibited a high momentum as of this writing. Head to Benzinga Edge Stock Rankings to check how other gold-based ETFs stack up.