Peter Schiff Tells Investors to Ditch Bitcoin for Silver as BTC Hits $118K

As Bitcoin Shatters New Records, Critics and Bulls Clash Over What’s Next

Bitcoin’s surge past $112,000 has reignited old debates—and longtime skeptic Peter Schiff is back in the spotlight, urging crypto holders to cash out and buy silver before the metal makes its next big move.

Schiff: “Sell Bitcoin, Buy Silver Now”

In a post on X (formerly Twitter), economist and gold bug Peter Schiff called the latest Bitcoin rally a perfect moment to offload BTC holdings and stack silver instead.

“With Bitcoin hitting new highs today (in dollars), it’s a great time to sell some and buy silver ahead of silver’s next big leg up,” Schiff posted on Thursday.

Schiff doubled down, arguing silver’s upside potential outweighs Bitcoin’s, while warning that BTC “can easily crash,” and silver’s downside is “very limited.”

Bitcoin Smashes Records, Now Near $118K

Bitcoin wasn’t listening. The digital asset soared to a new all-time high above $112,000 on Thursday. By Friday, it had pushed further, trading at nearly $118,000 after a 6% price increase over the past 24 hours.

Crypto Titans Split: Schiff Bears Down, Hayes and Ghoos Stay Bullish

Not everyone shares Schiff’s bearish stance.

Arthur Hayes, co-founder of BitMEX, acknowledged temporary liquidity constraints caused by the U.S. Treasury General Account replenishment, but remained bullish overall.

“[Ether] will outperform, get ready for a monster [altcoin season],” Hayes declared in a Friday post.

At the same time, OKX Europe CEO Erald Ghoos positioned Bitcoin’s rise as far more than a speculative burst.

“This isn’t just noise—it reflects Bitcoin’s emergence as the ultimate digital macro hedge,” Ghoos said, citing “rising global trade tensions, looming tariffs, and strategic ETF inflows” as tailwinds for institutional interest.

OKX executive Roshan Robert also weighed in, stating:

“Bitcoin is showing why it’s in a class of its own. July will test markets, but Bitcoin looks built for it.”

Tariff Tensions Add Fuel to the Fire

Hayes believes part of the market’s current pricing reflects expectations that former President Donald Trump will back away from announced tariffs. But if those tariffs are implemented, macro volatility could escalate—fueling the case for both digital and physical hedges.

A Divided Market Heading Into July

Bitcoin is in uncharted territory. With volatility near decade lows and ETF inflows climbing, July could be a defining month for the asset class. While skeptics like Schiff urge caution and pivot to silver, a growing chorus of institutional voices view Bitcoin as a digital fortress in a turbulent economy.