COINOTAG News reported on September 24 that economist and cryptocurrency critic Peter Schiff posted on social media, arguing that Bitcoin has failed to meet market expectations when benchmarked against precious metals.
Measured in terms of physical gold, Bitcoin is approximately 20% below its August all‑time high, a drawdown that commentators characterize as a bear market in gold-denominated terms. This contrasts with the smaller declines observed in USD pricing, underscoring different valuation lenses.
For investors treating Bitcoin as digital gold, the relative performance versus gold is a material consideration for portfolio allocation and risk assessment, reinforcing the importance of cross‑asset benchmarks in market analysis.