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- Gold hits a record $3,300+, reigniting safe-haven debates as Bitcoin slips 2.6% in 24 hours, now down over 23% from ATH.
- Peter Schiff declares Bitcoin “dead,” urging investors to pivot to gold as top gold stocks soar up to +89.90% YTD.
- Strategy defends Bitcoin’s future, with Michael Saylor calling for corporate adoption as its stock outpaces tech giants.
Gold has officially shattered its all-time high, climbing above the critical $3,300 mark, according to data from Google Finance. This historic milestone comes amid growing market uncertainty and has reignited debates around the reliability of Bitcoin as a long-term store of value. The gold rally has injected fresh optimism into the precious metal market, with bullish momentum continuing into mid-April.
Furthermore, at the beginning of April, gold was trading at $3,114.04. After a brief uptick to $3,132.63, prices dipped sharply to $2,980.78 between April 3 and April 7. This correction followed geopolitical turbulence triggered by U.S. President Donald Trump’s aggressive tariff policy, which was temporarily paused for non-retaliating nations. Market indecision reached a climax on April 8, forming a long-legged Doji candlestick, a classic sign of market uncertainty.
However, on April 9, gold prices reversed sharply, launching a bullish trend that saw the market rise over 8.5% within three days. As of today, gold opened at $3,230.255 and currently sits at $3,323.20, suggesting further upside could be in play. The gold market’s breakout has attracted global investor interest, especially as traditional markets remain volatile.
Bitcoin Crashes as Gold Hits Record High
Amid gold’s historic rally, gold maximalist and vocal Bitcoin skeptic Peter Schiff has reignited controversy by urging investors to abandon Bitcoin entirely. Schiff claims that Bitcoin is headed for a major crash and argues that now is the time to reallocate capital into gold and gold-related equities.
Moreover, his statements come as Bitcoin (BTC) struggles to hold ground. The world’s leading cryptocurrency has dropped 2.21% in the past 24 hours, trading at $84,028. BTC is now 5.87% below its monthly peak and over 23.5% down from its all-time high of $109,000. The first quarter of 2025 also paints a bearish picture for Bitcoin, showing a decline of 11.7%, a stark contrast to the 68.7% growth seen in Q1 of 2024.
Bitcoin Faces Pressure as Gold Stocks Skyrocket in 2025
Schiff’s call to pivot away from Bitcoin is backed by recent stock market data. Companies involved in gold exploration, mining, and processing have surged across the board. According to Yahoo Finance, the sector has posted a 30-day average gain of 16.69%. Year-to-date, gold stocks are up 47.16%, with a 12-month return of over 60%.
Top gold stocks are surging in 2025, with AngloGold Ashanti up +89.90% YTD, Idaho Strategic +78.41%, and Newmont +46.64%. These gains support Peter Schiff’s view that gold, not Bitcoin, is the true safe-haven asset this year.
Despite Schiff’s warnings, not everyone is turning their back on BTC. Strategy, the public company with the largest Bitcoin holdings (528,185 BTC worth over $44 billion), continues to lead the charge in digital asset accumulation. Co-founder Michael Saylor recently encouraged tech giants like Microsoft to adopt a Bitcoin-centric treasury model.
Moreover, renowned crypto analyst Eric Balchunas recently highlighted that Strategy has significantly outperformed U.S. tech stocks in 2025. Over the past year, its stock has skyrocketed 147.78%, with a 7.29% YTD gain. In comparison, the broader tech market has only grown 6.82% year-over-year and is currently down 14.56% YTD.
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