Bitcoin Beats S&P 500 Since ETF Launch, Analyst Rebuts Peter Schiff

Nate Geraci has responded to Peter Schiff’s latest criticism of Bitcoin (BTC), challenging his claim that the cryptocurrency is lagging behind.

This comes as data reveals that investors have shifted toward precious metals over the past year.

Schiff Calls Out Bitcoin’s Poor Performance

Schiff, a long-time Bitcoin skeptic, recently took to social media to say that the flagship cryptocurrency is now one of the “worst performing assets” on Wall Street.

However, Geraci, president of NovaDius Wealth Management, has disagreed with this view. The analyst responded to him on X, pointing out that Bitcoin has been outperforming the S&P 500, stating:

He further explained that the cryptocurrency has risen roughly 90% since the ETFs debuted, compared with gains of less than 50% in the broader stock market, expressing frustration with the economist’s constant bearish outlook of the digital asset.

Schiff has repeatedly criticized Bitcoin on social media in recent months, arguing that it has failed to live up to its reputation as “digital gold,” while also praising the performance of its traditional precious metals counterparts. Last December, he celebrated gold’s surge past $4,400 by challenging his followers with a poll asking whether the metal would hit $5,000 first or the leading cryptocurrency would plunge to $50,000.

The financial commentator has also previously suggested that Bitcoin’s collapse will occur before any crisis involving the U.S. dollar unfolds.

Shifting Market Dynamics

A new report from Santiment shows that market dynamics are changing, with rising uncertainty about the world’s future outlook pushing investors toward precious metals.

Data indicates that over the past year, silver has surged by 214%, gold has climbed 77%, and Bitcoin has dropped 16%. This divergence could be interpreted as a bullish sign for the lagging crypto market, as the performance of “digital gold” and metals has frequently alternated over the past decade, with Bitcoin often leading during specific cycles.

However, some analysts argue that this preference for physical assets could represent a new long-term trend in the market. Overall, institutional investors have been steadily accumulating crypto, a pattern that has been consistent since late November last year.

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