Yeliz Akmaca 
Binance co-founder Changpeng Zhao (CZ) responded sharply to economist Peter Schiff’s recent Bitcoin criticisms. Schiff claimed that Bitcoin has lost 32% against gold since August, warning investors of a brutal bear market. CZ dismissed the claim as “narrow-minded,” emphasizing Bitcoin’s impressive 16-year historical growth from $0.004 to over $110,000, despite occasional drops.
CZ Fires Back at Schiff
“Peter revenge. We should have listened to him two months ago; this represents only 1% of Bitcoin’s 16-year history. I’m sure Bitcoin has fluctuated against gold more than that, yet BTC rose from $0.004 to $110,000 in 16 years.” – CZ
“Bitcoin may experience occasional declines, but its long-term historical growth remains impressive.” – CZ
Bitcoin vs Gold
Peter Schiff emphasized Bitcoin’s drop against gold, urging investors to move into real gold. On X (formerly Twitter), he wrote:
“Gold is eating Bitcoin’s lunch. Bitcoin is now down 32% priced in gold since its August high. This Bitcoin bear market will be brutal. HODLers, sell your fool’s gold now and buy the real thing, or have fun going broke.” – Peter Schiff
Analysts also noted that a Bitcoin drop could put gold at risk as well. Popular trader The Bitcoin Therapist mentioned he is considering selling his digital assets to move entirely into gold.
Price Table
| Asset | August 2025 | October 2025 | Change |
|---|---|---|---|
| Bitcoin (USD) | 126,000 | 106,025 | -16% |
| Gold (USD/oz) | 4,100 | 4,300 | +4.8% |
Crypto Market Outlook
Tony Edward, founder of the Thinking Crypto Podcast, noted that an upcoming liquidity rotation could allow Bitcoin and the wider crypto market to outperform traditional assets. Schiff’s “de-bitcoinization” and “de-dollarization” comments challenge Bitcoin’s status as a long-term store of value.
Bitcoin is currently trading around $106,025, down 16% from its August all-time high. Meanwhile, gold has risen to a record $4,300 per ounce.
Key Highlights
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Peter Schiff: Bitcoin down 32%, investors should move to gold.
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CZ: Short-term declines are historically insignificant.
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Analysts: A Bitcoin drop could also impact gold.
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Market: Bitcoin $106,025, Gold $4,300/oz.
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