Gold advocate and longtime Bitcoin critic Peter Schiff has advised crypto investors to dump Ethereum (ETH) in favor of Bitcoin (BTC), even as ETH reached a six-month high of $3,800.
In a recent post on X, Schiff has claimed Ethereum is still in a bear market compared to Bitcoin. He believes the recent ETH rally is nothing more than a short-lived bounce and that the token is near its upper trading range with limited upside ahead.
According to Schiff, now is the “ideal time” to sell Ethereum and switch to Bitcoin, which he sees as the stronger asset under current market conditions. When questioned by X users, Schiff insisted his view was based purely on chart analysis, not personal bias.
He also noted that Ethereum faces increased competition in its use case and narrative, weakening its long-term potential.
Schiff’s comments came as Ethereum surged 25% in a week, fueled by record inflows into spot Ethereum ETFs and growing interest from institutional investors. Public firms like BitMine and SharpLink Gaming have also added large ETH holdings to their treasuries.
Meanwhile, SharpLink fired back at Schiff, mocking his post and promoting Ethereum staking instead of selling. The company currently holds over $1 billion in ETH and stakes a portion to earn yield and support the network.
Crypto analyst Benjamin Cowen also criticized Schiff’s timing, pointing out that ETH/BTC had already bottomed before his bearish call.
The debate has once again reignited the ETH vs BTC rivalry in the crypto world.
Also Read: BitMine Now Holds $1B in Ethereum Treasury, Joins SharpLink
