Crypto Maverick Peter Schiff Reveals Surprising Bitcoin Loyalty Amidst Ethereum Surge
Despite a recent surge in Ethereum's value that has seen it erode some of Bitcoin's long-standing market dominance, renowned economist and gold advocate Peter Schiff has publicly declared his preference for Bitcoin, albeit under extreme hypothetical duress. This unexpected admission from a vocal critic of both cryptocurrencies highlights the persistent debate over which digital asset truly holds the crown.
Ethereum's Momentum Challenges Bitcoin's Reign
Ethereum (ETH) has demonstrated impressive growth, recently breaking past the $4,000 mark and hitting a new high for 2025. This rally is largely attributed to a significant increase in whale transactions and robust derivatives trading, signaling strong speculative demand. Last week, Ethereum even outpaced Bitcoin in percentage appreciation, further intensifying interest among its growing community of supporters.
Bitcoin's Enduring Strength and Schiff's Unexpected Endorsement
While Ethereum captures headlines with its rally, Bitcoin (BTC) continues to hold its ground above $100,000. Its resilience is bolstered by consistent inflows into spot Bitcoin ETFs and strategic corporate treasury acquisitions. However, this period of Ethereum ascendancy has visibly impacted Bitcoin's market share. Data indicates Bitcoin's dominance has dipped to 59%, a 4.90% decrease from the previous month. In contrast, Ethereum's share climbed to 12%, and altcoins collectively saw their slice of the market grow to 25%. It's within this context of shifting market dynamics that Peter Schiff, known for his skepticism towards cryptocurrencies, made his provocative statement on X: "I have no interest in owning either, but if you put a gun to my head, I’d choose Bitcoin."
The Shifting Crypto Landscape
Bitcoin's market dominance, which peaked at an annual high of 65% in late June 2025, has gradually retreated in subsequent weeks, currently hovering around 61% from a week prior. While current levels remain significantly higher than its December 2024 low of 53%, the downward trend suggests a broader diversification of investor interest across the crypto market. Ethereum, for its part, continues to consolidate its gains, nearing the top of its yearly trading range. The sustainability of this trend will depend on institutional movements, macro-economic factors, and sustained trading momentum. Schiff's surprising preference, coming from a long-standing critic of both major cryptocurrencies, serves as a remarkable testament to Bitcoin's fundamental perceived value, even when faced with compelling alternatives.
