Vocal Gold Promoter Says He’d Choose Bitcoin When Threatened With A Gun To The Head
Ethereum’s most up-to-date value rally has eroded Bitcoin’s dominance, representing one of many steeper actions within the crypto house in current months.
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Although each belongings have registered progress, US President Donald Trump’s long-time crypto skeptic, Peter Schiff, made it plain which one he would retain in case he had been compelled — and it isn’t Ethereum.
ETH Pushes Previous $4,000 Amid Robust Exercise
Ethereum moved previous $4,000 in current buying and selling classes, reaching a excessive for 2025. Whale transactions and heavier derivatives buying and selling have been the gas to this value motion, in line with stories.
Volumes and open curiosity have additionally gone up, indicating wholesome speculative demand. ETH even surpassed Bitcoin’s proportion appreciation within the earlier week, additional pushing eagerness up amongst its followers.
Nicely Ether is up a bit since I recommed swap it into Bitcoin, however I nonetheless assume the commerce will work out. If truth, it was woring nicely initially, till Ether simply rallied late final week. I’ve no real interest in proudly owning both, however in case you put a gun to my head, I’d selected Bitcoin.
— Peter Schiff (@PeterSchiff) August 9, 2025
Schiff, who’s an economist and gold advocate, stated Ether’s surge got here after he had been recommending traders to switch their ETH to Bitcoin.
Although that tack apparently paid off at first, Ethereum’s late-week surge closed the hole. “I’ve no real interest in proudly owning both, however in case you put a gun to my head, I’d choose Bitcoin,” Schiff stated on X.
Bitcoin Above $100k However Lags Behind In Phrases Of Market Share
Regardless of the ETH rally, Bitcoin has stored its place as the biggest cryptocurrency by market capitalization and essentially the most broadly adopted by establishments.
It’s nonetheless above $100,000, buoyed by spot Bitcoin ETF inflows and company treasury shopping for.
Market share statistics from CoinMarketCap, nonetheless, point out that Bitcoin’s dominance had dropped to 59%, which is 4.90% much less from final month.
Ethereum’s share has grown to 12%, up 3.25% in the identical interval. Altcoins mixed have elevated their slice to 25%, a achieve of 1.50%.
Abrupt Shift From June Peaks
Bitcoin dominance hit an annual excessive of 65% on June 27, 2025, then retreated throughout the next weeks. Dominance was at 61% per week in the past.
The yr low hit 53% throughout December 2024, which implies present ranges are nonetheless a lot larger than that low however nonetheless trending downwards.
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Ethereum, for its half, has continued to consolidate extra, nearing the highest of its yearly vary.
Whether or not it holds there or not can be a perform of institutional positioning, macro traits, and continued buying and selling momentum.
Within the meantime, Schiff’s remark made clear that, if threatened, he’d nonetheless take Bitcoin over Ethereum — a uncommon admission from a long-time critic of each.
Featured picture from Meta, chart from TradingView
