Longtime Bitcoin critic and gold advocate Peter Schiff said the latest BTC rally may be a selling opportunity for investors to buy silver instead.
“With Bitcoin hitting new highs today (in dollars), it’s a great time to sell some and buy silver ahead of silver’s next big leg up,” Schiff said in a Thursday X post as Bitcoin (BTC) put on its moon boots again and set new highs above $112,000.
He claimed that silver has more upside potential than Bitcoin and added that while BTC “can easily crash, silver’s downside seems very limited.”
Arthur Hayes, co-founder of BitMEX, also weighed in on market conditions in a Friday X post. He said he was “slightly bearish” due to the US Treasury General Account being replenished through new debt issuance, which could temporarily drain liquidity.
Still, Hayes said he was bullish after Bitcoin reached a new all-time high and Ether (ETH) went on a march upward:
“[Ether] will outperform, get ready for a monster [altcoin season.]”
Related: Bitcoin supply is shrinking: Will Saylor’s relentless BTC buying cause a supply shock?
Tariffs play a role
Hayes said that the market believes US President Donald Trump will “chicken out” on the tariffs, adding that his family office fund, Maelstrom, is ready to reenter the market.
Erald Ghoos, the CEO of the European arm of crypto exchange OKX, also said that Bitcoin’s surge to new highs “isn’t just noise, it reflects its emergence as the ultimate digital macro hedge.” He added:
“Amid rising global trade tensions, looming tariffs and a policy‑driven liquidity backdrop, institutions […] are treating BTC like a form of digital gold. With volatility at decade‑low levels and strategic ETF inflows accelerating, July is shaping up to be a defining moment.”
Related: Bitcoin, Ether ETFs clock second-biggest day of inflows on record
Bitcoin’s new all-time high
The reaction came amid Bitcoin reaching a new all-time high on Thursday, surpassing $112,000. At the time of writing, Bitcoin traded at almost $118,000 after seeing its price rally by about 6% over the last 24 hours.
OKX CEO Roshan Robert said, “Bitcoin is showing why it’s in a class of its own.” According to Robert, while ongoing trade tensions flare and altcoins stumble, institutions are treating Bitcoin as a macro hedge and maturing asset class.
“July will test markets, but Bitcoin looks built for it,” he concluded.
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