Schiff Claims Wall Street Killed Bitcoin

Peter Schiff has criticized Bitcoin’s performance in early 2026, attributing its stagnation to increased institutional involvement, including the rise of exchange-traded funds (ETFs). He argued that Bitcoin’s original appeal as a contrarian asset has diminished and that it has become one of the worst-performing investments since being widely adopted by mainstream financial firms.

Responding to a claim that Bitcoin has risen over 116% since ETF launches in January 2024, Schiff dismissed the gain as a limited window benefiting only early buyers. He contrasted Bitcoin’s performance with silver and gold, noting silver has surpassed $98 and gold is approaching $5,000, while Bitcoin remains down more than 50% when measured in gold since its 2021 peak.