Peter Schiff is back — and he is calling a top on Bitcoin (BTC), again. So, earlier today, Schiff took to social media to celebrate a strong rally in precious metals. Gold broke above $3,400 and silver is trading near $36 — a level not seen since 2012 — and platinum jumped 4%.
But buried in his comments was something more pointed: he flagged Bitcoin treasury shifts by gold companies as a potential top signal for crypto.
In his reply to a user mentioning that a gold mining firm, Bluebird, was reportedly shifting some of its treasury to the cryptocurrency, Schiff responded by saying this is “another sign of a Bitcoin top.” That line alone is noteworthy, especially as BTC continues to stall around the $105,000 price point.
Yes, silver is still very cheap and going much higher as a result. All these Bitcoin treasury companies are another sign of a Bitcoin top.
— Peter Schiff (@PeterSchiff) June 5, 2025
Looking at the big picture, Bitcoin has been struggling compared to metals lately. The BTC-to-gold and BTC-to-silver ratios have started to pull back after a strong multi-month run. Schiff seems to think this rotation is more than just a pause. To him, it is part of a trend reversal.
Others in the thread pushed back, saying that when adjusted for inflation, gold and silver still do not measure up. But Schiff did not change his mind. He mentioned how metals have done well recently and believes Bitcoin’s rise is a bit overblown.
It is about more than just price charts. Schiff is linking how institutions behave — like diversifying their assets — to extreme feelings. He thinks that the second traditional firms start getting into Bitcoin is the second to get out.
We will have to wait and see if he is right or not.
