Key Takeaway
How did the crypto community respond to Schiff’s comments?
The crypto community pushed back, with “Wall Street Bitcoin” criticizing his track record and Charles Hoskinson telling him to “shut up and go home.”
What triggered the latest downturn in the crypto market?
The sell-off followed Trump’s announcement of a 100% tariff on Chinese imports, causing Bitcoin and Ethereum to fall sharply.
Peter Schiff, the long-time Bitcoin [BTC] skeptic and vocal advocate of traditional assets, has once again stirred the crypto community.
This time, by extending his criticism beyond Bitcoin to target Ethereum [ETH].
Peter Schiff takes a jab at Ethereum
Despite repeated efforts by crypto enthusiasts to convince him of Bitcoin’s long-term potential, Schiff remains firm in his preference for gold and silver.
His latest remarks, however, mark a new level of critique as he aims at Ethereum, questioning its credibility and long-term relevance.
Taking to X (formerly Twitter), Schiff noted,
“As bad as Bitcoin looks, Ethereum looks even worse. While Bitcoin is only down about 10% from its record high priced in U.S. dollars, Ether is down 21%. It’s now trading near $3,900.”
He added,
“If it breaks support around $3,350, a quick move down to $1,500 is a real risk. Get out now!”
Community reaction
As expected, Schiff’s remarks drew immediate backlash from the crypto community, with several users on X—including the account “Wall Street Bitcoin”—stepping in to challenge his views.
“Peter, you’ve been wrong the last 15 years, give it a break man. You’re going to look like a joke again and again. See you in a month when everything is up 50%.”
Echoing similar sentiments, even Cardano Founder Charles Hoskinson added,
“Dude, just shut up and go home. You’re drunk and you lost.”
Current market dynamics
That being said, Schiff’s comments arrived amid a sharp downturn in the crypto market, with Ethereum trading at $3,768.62 at press time, after a steep 12.82% drop in the past 24 hours, according to CoinMarketCap.
Bitcoin wasn’t spared either, sliding 8.14% to $111,494.32 over the same period.
The broader market sell-off appears to have been triggered by President Donald Trump’s recent announcement. He declared a 100% tariff on imports from China, set to take effect on the 1st of November 2025, in response to Beijing’s export restrictions.
The policy shock rattled investor sentiment, triggering heavy liquidations across digital assets.
What’s more?
Ultimately, Schiff’s latest comments reveal a rare moment of concession. While he acknowledges Bitcoin’s relative strength, he still refuses to endorse it as a legitimate investment.
As digital markets continue to evolve and investor sentiment shifts, his persistent skepticism toward crypto may increasingly conflict with the views of a growing generation of digital-first investors.
