Bitcoin drops below €122,000 as gold climbs to new highs. Renowned economist Peter Schiff predicts a massive shift of capital towards precious metals. Are institutional investors gearing up for a change?
Economist Peter Schiff, known for his skepticism toward cryptocurrencies, made bold statements on X this week. According to him, “Bitcoin and the entire crypto universe are about to be challenged by gold.” His prediction goes further: he anticipates gold reaching $4,000 per ounce, representing a 50% increase from current levels of around $2,700.
Schiff argues that Wall Street’s optimism toward digital assets is becoming increasingly difficult to justify. His thesis rests on the idea that a strong upward momentum in gold would mechanically divert significant capital away from cryptocurrencies. For major investors, such a movement in the yellow metal would be impossible to ignore, according to the economist.
This position comes as several macroeconomic factors weigh on risk assets. The threat of a three-week U.S. government shutdown briefly amplified volatility, pushing some traders toward defensive positions. Markets are also factoring in growing geopolitical uncertainties and a potentially weaker dollar in the medium term.
Contrary to this pessimistic view, Deutsche Bank offers a radically different scenario. According to a recent research note, Bitcoin and gold could both appear on central bank balance sheets by 2030. This perspective reflects a profound evolution in the role of safe-haven assets amid increased geopolitical risks and questions about the supremacy of the dollar.
The German bank emphasizes that Bitcoin has demonstrated remarkable resilience in 2025, reaching $123,500 in August and $125,000 in October during its record run. According to their analysts, a strategic allocation to Bitcoin could become a standard element of modern reserves, complementary to traditional gold rather than in direct competition.
This vision is echoed by market veterans like Paul Tudor Jones, who maintains a bullish outlook on Bitcoin. These investors perceive the current correction as merely a technical pause in a structural upward trend, not the peak of a cycle. The debate thus crystallizes around two scenarios: Rotation into gold or coexistence of both assets in institutional portfolios.
Trading data reveals that the current decline resembles profit-taking after several consecutive weeks of gains rather than a major trend reversal. Transaction volume remains relatively moderate, suggesting the absence of widespread selling panic. Support levels around $120,000 are being closely monitored by technical analysts.
Institutional players are adopting diversified strategies. Some prefer to simultaneously hold Bitcoin and gold in their allocations, viewing these assets as complementary in an environment of macroeconomic uncertainty. Others are carefully monitoring key indicators: Inflation, Fed interest rate expectations, and the strength of the US dollar.
For now, markets remain divided. Bulls are betting on continued institutional adoption and the prospect of a Strategic Bitcoin Reserve in the United States. Bears, like Schiff, anticipate a flight to quality favoring gold. The coming weeks will be decisive in confirming or invalidating one of these two scenarios. Investors remain cautious, scrutinizing every price movement to detect the first signals of a clear direction.
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