Gold reached a historic milestone on Monday, closing above $3,000 per ounce for the first time. Veteran economist and outspoken Bitcoin critic Peter Schiff took to X to mark the occasion—by promoting his own Bitcoin-based non-fungible tokens (NFTs).
Schiff, a longtime advocate for gold as a safe-haven asset, declared that the next $1,000 increase in gold’s price “won’t take nearly as long” as the climb from $2,000 in August 2020. Alongside his remarks, he encouraged his followers to commemorate the event by purchasing his Golden Triumph Ordinals, a series of Bitcoin-inscribed digital collectibles. “They are far more scarce than Bitcoin,” Schiff wrote.
The promotion comes as Bitcoin continues to trade near record highs. Despite his well-documented skepticism of the cryptocurrency, Schiff has previously leveraged its blockchain technology for his NFT collection. His Golden Triumph Ordinals, which launched in May 2023, feature artwork tied to Bitcoin’s blockchain—a technology Schiff has repeatedly criticized.
A History of Bitcoin Skepticism
Schiff has long dismissed Bitcoin’s value proposition, frequently advocating for gold over digital assets. In a recent post, he reiterated his stance: “Bitcoin has never been great, so I can’t make it great again. But it has been a great scam, so I will give you that.” He argued that Bitcoin remains “the most shilled ‘asset’ in history,” criticizing media and government entities for their role in promoting it.
Despite his criticisms, Schiff has embraced Bitcoin’s blockchain to sell his NFTs. He first promoted the collection in November 2024, when Bitcoin surpassed $80,000. At the time, he underscored its limited supply, contrasting it with Bitcoin’s maximum cap of 21 million tokens. “There’s 21 million Bitcoin but only 50 Golden Triumph ordinals. It’s clear which one is more valuable. You can’t argue with math,” he stated.
As of Monday, gold traded at $3,011.77 per ounce, up 14.7% year-to-date. Bitcoin, meanwhile, stood at $83,297.96, reflecting a 0.28% increase in 24 hours. While Schiff continues to champion gold’s role as a stable investment, Bitcoin proponents argue that the cryptocurrency’s growing adoption and institutional backing position it as an alternative store of value.
Schiff maintains that selling gold for Bitcoin represents a significant financial misstep. “The worst-timed trade in history,” he said in a recent post. Despite this, his promotion of Bitcoin Ordinals suggests a strategic pivot—at least when it benefits his own ventures.
