Ethereum’s impressive climb to $3,800, its highest level since January, has drawn a mixed response from the crypto world. Among the loudest voices is economist and gold advocate Peter Schiff, who has urged investors to sell their Ethereum and rotate into Bitcoin instead. Schiff, well known for his criticism of cryptocurrencies, argues that ETH’s rally is unsustainable and that Bitcoin offers a better long-term opportunity.
However, Schiff’s remarks have not gone unchallenged. Several crypto analysts and companies have fired back, defending Ethereum’s fundamentals and pointing to renewed institutional interest as a reason for ETH’s recent strength. The debate has once again spotlighted the rivalry between Bitcoin and Ethereum, particularly in light of recent ETF developments and treasury adoption.
Peter Schiff Claims ETH Upside Is Limited
On social media platform X, Peter Schiff posted that Ethereum’s rally is just a brief recovery within a longer-term bearish trend. He argued that Ethereum is still in a bear market when measured against Bitcoin, saying ETH’s recent strength is nothing more than a temporary spike within a sideways range.
“ETH is nearing the top of its range,” Schiff wrote. “It’s a good time to get out and rotate back into Bitcoin.”
Despite his general skepticism toward both assets, Schiff emphasized that his view was based on technical analysis, not personal bias. He pointed to the ETH/BTC chart as evidence that Ethereum has lost its competitive edge in the current market. In his view, Ethereum’s narrative has become more diluted as other platforms emerge with similar or improved features, weakening its long-term investment case compared to Bitcoin.
ETH Rally Driven by ETFs and Treasury Buys
Schiff’s warnings come at a time when Ethereum is enjoying renewed interest from institutional investors. The past week has seen a surge in inflows into spot Ethereum exchange-traded funds, adding momentum to ETH’s upward movement. Over the last seven days, the asset has gained roughly 25%, outperforming Bitcoin on shorter timeframes.
Part of the bullish sentiment stems from corporate treasury involvement. Companies like BitMine and SharpLink have added significant quantities of ETH to their balance sheets. In SharpLink’s case, over $1 billion worth of Ethereum is reportedly being held, with a portion actively staked on the Ethereum network to earn passive income and contribute to the blockchain’s security.
This kind of institutional support has led many analysts to argue that ETH has become more than just a speculative asset. Instead, it is being treated as a productive digital commodity — one that can generate returns through staking and serve as a hedge in portfolios.
Crypto Community Mocks Schiff’s Take
Unsurprisingly, Schiff’s bearish call was met with sharp criticism from the crypto community. SharpLink Gaming responded by sarcastically editing Schiff’s post to encourage staking ETH instead of selling it. The company’s treasury strategy makes it clear that they see Ethereum as a long-term asset worth accumulating, not exiting.
In a separate response, crypto analyst Benjamin Cowen weighed in with technical data. He posted a chart of the ETH/BTC pair, suggesting that Schiff’s timing was poor. According to Cowen, ETH had already bottomed relative to Bitcoin, and Schiff’s suggestion to rotate into BTC missed the window of opportunity.
“Schiff is always late to the party,” Cowen noted, implying that traders who follow Schiff’s advice may end up on the wrong side of the trade.
ETH vs BTC: Which Is the Better Bet?
The broader conversation now centers on Ethereum’s role versus Bitcoin’s in a maturing crypto landscape. Bitcoin is widely seen as a store of value, benefiting from ETF inflows and institutional adoption as a kind of digital gold. Meanwhile, Ethereum is increasingly being used for decentralized applications, smart contracts, and network staking — making it more dynamic but also more complex.
Ethereum’s current price strength relative to Bitcoin has reignited debate over which asset offers more upside. With ETH/BTC showing signs of bottoming, some traders believe a period of Ethereum outperformance could follow.
Still, Schiff’s critique underscores a persistent viewpoint in financial circles — that Ethereum’s future is less certain due to competition from other blockchain platforms, regulatory scrutiny, and its evolving utility.
Final Thoughts
While Peter Schiff remains unconvinced by Ethereum’s recent rally, the broader market seems to be moving in the opposite direction. Institutional flows, corporate treasury involvement, and favorable technical setups are all combining to give ETH strong momentum.
Whether Schiff’s bearish stance proves accurate in the long run remains to be seen. But for now, the data suggests Ethereum is gaining traction as both a financial and technological asset — and many investors aren’t ready to sell just yet.
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