Bitcoin soared to a new record high of $126,198, pushing its market cap beyond $2.5 trillion for the first time. Gold, however, surged to an all-time high of $4,000 per ounce, outperforming Bitcoin this year. Economist Peter Schiff argued that the Bitcoin price should reach $148,000 to remain in line with the rise of gold.
Peter Schiff dismissed the recent Bitcoin rally as a temporary “bear market rebound,” despite new highs in nominal terms. He emphasized that when priced in gold, the Bitcoin price remains around 15% below its historical peak. Schiff said, “It’s too early for Bitcoiners to get excited about this rally.”
It's a moving target as gold keeps rising. But based on where gold is now, Bitcoin would have to rise to about $148K to match it's record high priced in gold.
— Peter Schiff (@PeterSchiff) October 6, 2025
He further added that Bitcoin price must rise to nearly $148,000 to equal its previous record in gold terms. While some crypto analysts believe a $150,000 Bitcoin price is likely by year-end, Schiff remains unconvinced. He stressed that rising gold prices move the benchmark for Bitcoin higher.
Despite U.S. economic instability, including a government shutdown, the Bitcoin price continued climbing on expectations of Federal Reserve rate cuts. Schiff warned that this trend does not guarantee a sustainable uptrend in Bitcoin. According to him, long-term fundamentals still favor gold.
Gold’s price hit $4,000 per ounce, pushing its total market valuation to $27 trillion, far outpacing Bitcoin’s market cap. This marks gold’s growing strength against Bitcoin, with Schiff claiming it has extended its lead by more than 10 times. He argued that the Bitcoin price remains relatively weaker in real terms.
Schiff insisted,
“Based on gold’s current price, Bitcoin should trade around $148,000 to match its historical performance.”
As gold climbed steadily, Schiff urged the Fed to raise rates between meetings and reverse its current policy. He viewed gold’s rally as a warning against loose monetary actions.
Meanwhile, the Bitcoin price has stayed under pressure to outperform amid global economic uncertainty. Investors still consider gold a safer, more stable hedge compared to the volatile nature of Bitcoin. Yet, market analysts continue to monitor Bitcoin price movements closely for signs of long-term strength.
Despite contrasting views, both Bitcoin and gold remain top-performing hard assets in 2025. Ecoinometrics reported that Bitcoin leads in total returns, while gold dominates in risk-adjusted returns. This trend has continued for nearly two years, reinforcing investor preference for hard assets.
The Bitcoin price has remained resilient, even as macroeconomic factors continue to shift rapidly. Analyst Paul Tudor Jones expects a strong “Uptober” rally, predicting another surge in Bitcoin price. However, Schiff continues to view the gold rally as more reliable amid current economic conditions.
Maxwell is a crypto-economic analyst and blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. His goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.
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