Peter Schiff Asks Traders To Ditch Bitcoin For Gold Amid ‘Venezuela-Inspired’ Surge: ‘Don’t Believe The Hype…Just Take Advantage Of The Rally’
Posted On January 6, 2026
Economist and market commentator Peter Schiff urged investors Monday to take profits on Bitcoin (CRYPTO: BTC) during the ongoing rally and use the proceeds to invest in gold.
Is This Bitcoin Surge Just Hype?
In an X post, Schiff said that the “Venezuela-inspired” rally, which has pushed Bitcoin above $94,500, is not a bullish sign, but rather a “pumper” narrative.
“Don’t believe the hype. Just take advantage of the rally to sell and use the proceeds to buy real gold instead,” the Bitcoin critic added.
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