Summary: ‘Sell Ethereum, Buy Bitcoin’: Peter Schiff Makes Surprising Crypto Call

Even the most staunch critics can change their tune! Peter Schiff, a celebrated gold advocate and long-standing cryptocurrency skeptic, has issued a truly unexpected market call, advising Ethereum (ETH) holders to offload their digital assets and pivot into Bitcoin (BTC). This surprising recommendation, shared on X on July 21st, signals a rare deviation from his typical cautionary stance on the crypto market. Schiff's rationale hinges on Ethereum's current valuation, which he perceives as nearing the peak of its trading band, suggesting that converting ETH into Bitcoin would yield a "better trade." He contends that Ethereum, unlike Bitcoin with its "digital-gold storyline," grapples with an "acknowledged competition" from emerging Layer-1 alternatives. This claim arrives as ETH trades around $3,650 and Bitcoin hovers near $118,000, placing the ETH/BTC ratio significantly lower in its five-year range. While Schiff's advice might raise eyebrows, his history of crypto predictions has often been famously off-target. His past bearish calls on Bitcoin, such as declaring "the party is over" in early 2025 or predicting a crash before spot ETF approvals, have consistently preceded major upward movements for the leading cryptocurrency. Nevertheless, his latest argument suggests a belief that Ethereum's smart-contract dominance is now genuinely threatened by new contenders and the increasing regulatory acceptance of other altcoin ETFs. The market, ever the ultimate arbiter, is currently weighing this intriguing and highly anticipated shift in the veteran investor's crypto outlook.