Gold and Silver Rally Overshadow Bitcoin Gains: Schiff Questions 2026 Outlook

Economist Peter Schiff has raised questions about Bitcoin’s market performance, pointing to a striking contrast with precious metals performance in 2025. While the broader market narrative has centered on major corporate acquisitions including those by MSTR, Bitcoin has struggled to gain meaningful traction, down approximately 4% year-to-date—a stark divergence from gold and silver’s impressive rallies.

The Precious Metals Outperformance

The numbers tell a compelling story. Gold has surged roughly 60% in 2025, while silver has climbed approximately 95%, both achieving these gains without the intensive institutional hype and purchasing campaigns that have surrounded Bitcoin. This raises an intriguing question about where capital is actually flowing and what investors are truly valuing.

Market Narratives vs. Reality

Despite constant headlines about Bitcoin adoption and institutional money entering the space through vehicles like MSTR’s ambitious buying program, the flagship cryptocurrency remains largely flat on the year. Schiff emphasizes that this disconnect between narrative and performance is a critical detail the market may be overlooking.

Looking Ahead to 2026

According to Schiff’s analysis, this divergence between Bitcoin and precious metals is unlikely to reverse course anytime soon. His forecast suggests the underperformance trend will persist through the remainder of 2025 and extend into 2026, potentially challenging the prevailing bullish sentiment that has dominated recent market discourse. The question now becomes whether traditional safe-haven assets like gold and silver will continue to capture investor attention at the expense of digital currencies.