Long-standing Bitcoin antagonist Peter Schiff’s recent Bitcoin criticism has drawn a reaction from Cardano founder Charles Hoskinson.
Hoskinson was not having it again with Schiff, launching a counterattack on the gold bug. The crypto founder insisted that Schiff has always been in the wrong and “utterly irrelevant,” and this won’t change now. He further highlighted Schiff’s record of wrong Bitcoin predictions and how he would fail again.
Schiff Drops New Bitcoin Rant
For perspective, Schiff shared on X that the Nasdaq 100 index recently surged to a new all-time high. The stock, which tracks the top 100 non-financial stocks listed on Nasdaq, rallied to 26,182 for the first time in its history today, following positive quarterly earnings reports from giants like Apple, Google, and NVIDIA.
Meanwhile, Schiff pointed out that Bitcoin has consolidated and is more than 10% below its all-time high of $126,220, reached three weeks ago. He further highlighted that Bitcoin treasury firm Strategy is in a bear market, correcting over 48% from its November 2024 ATH.
He concluded that the sideways trend in Bitcoin, while gold and tech stocks pump, suggested it was a bubble about to pop. Schiff further raised doubts about Bitcoin getting to $1 million, insisting that if this were true, MSTR would be growing to reflect this momentum.
The gold advocate’s comments add to the countless instances in which he has found a way to attack Bitcoin and its price trajectory.
Hoskinson Fires Back
However, the vocal Cardano founder did not hold back in his response to Schiff’s rant. After branding him irrelevant, he recounted that Schiff was wrong when he predicted that Bitcoin would never reach $1,000, $10,000, and $100,000.
Peter continues to be wrong and utterly irrelevant. He was wrong at 100 dollar bitcoin. He was wrong at 1000 dollar bitcoin. He was wrong at 10,000 dollar bitcoin. He is wrong at 100,000 dollar bitcoin.
He will be wrong at million dollar bitcoin. https://t.co/hpTVATc1qf
— Charles Hoskinson (@IOHK_Charles) October 29, 2025
Hoskinson suggested that his losing streak will continue when Bitcoin reaches $1 million per coin, a price many industry leaders have speculated will occur soon.
Remarkably, Schiff also recently got a response from Binance’s CZ on a separate Bitcoin criticism. He claimed that Bitcoin would work as long as investors keep believing in the asset and that it would crash when that “supply of fools” runs out.
In response, CZ stated that this is the same as gold and any form of money. He identifies that the precious metal’s price is not a function of its utility but a “pure belief system.”
Meanwhile, the broader cryptocurrency community also criticized Schiff’s comments. A standout comment claimed that comparing Bitcoin to gold and tech stocks is like judging a rocket by how fast a car moves.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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