Precious metal advocate Peter Schiff urged investors to exit Bitcoin and Strategy, formerly known as MicroStrategy, as gold prices surged past $4,400 per ounce. According to reports from BeInCrypto, Schiff warned that capital is rotating back into hard assets following a weak U.S. jobs report that cooled Federal Reserve interest rate expectations.
Gold and Silver Rallies Contrast With Stagnant Bitcoin Prices
Spot gold traded at $4,402.43 per ounce, marking a 0.28% daily increase, a 6.78% monthly gain, and a roughly 29.6% surge over the past year, according to TradingView data cited by BeInCrypto. Silver climbed to $65.84 per ounce, hitting a seven-week high and securing a 74% annual gain. Strong institutional demand from China and consistent central bank purchases drove the rallies, which followed soft employment figures in the United States.
While precious metals climbed, Bitcoin lagged behind the macroeconomic shift. Bitcoin hovered near $65,254, posting a modest 0.5% gain over a 24-hour window with a market capitalization of nearly 1.31 billones de dólares. Schiff interpreted the market divergence as structural rather than temporary. “When the oro initially rompió al alza, Bitcoin cayó. Cuando el oro corrigió, ahí fue cuando Bitcoin rebotó. Ahora que la corrección del oro terminó y el oro volvió a su modo rally, Bitcoin ha retomado su caída. Bitcoin es anti-oro. Cuanto más suba el oro, más bajará Bitcoin,” Schiff stated, as reported by BeInCrypto.
Strategy Liquidation and Collateral Concerns
The market warnings coincided with a fresh Bitcoin sell-off by Strategy. According to BeInCrypto, the business intelligence firm sold 1,690 BTC last week for 108.6 millones de dólares, executing sales at an average price of 64.262 dólares per coin after fees. The transactions realized a loss against the company’s aggregate cost basis of approximately 75,385 dólares per coin.
Strategy utilized the proceeds to repurchase its STRC preferred stock, which continues to trade below par value. Alongside the asset liquidation, the firm raised 653.1 millones de dólares through the sale of 6.59 millones de acciones ordinarias. These maneuvers elevated Strategy’s total cash reserves to 4.65 mil millones de dólares by August 9, while its total Bitcoin holdings dropped to 840.447 BTC.
Schiff argued that Strategy’s continuous coin liquidations point toward underlying balance sheet pressures rather than sound cash management. Saylor has maintained publicly that he has never personally sold his coins, despite the corporate entity executing recurring sales to raise dollars.
Market observers hold contrasting views regarding Bitcoin’s long-term correlation with traditional safe-haven assets. Gordon Grant, portfolio manager and head of derivatives at Bitwise, suggested in BeInCrypto‘s reporting that Bitcoin’s status as digital gold is better evaluated through the lens of adoption by sanctioned states rather than short-term price movements. Whether precious metals and cryptocurrency remain inversely linked will depend on upcoming monetary policy decisions from the Federal Reserve and Strategy’s ongoing capital-raising requirements.