Economist and longtime cryptocurrency skeptic Peter Schiff reiterated his preference for Bitcoin over Ethereum despite Ethereum's recent market rally and substantial ETF inflows. On August 9, 2025, Schiff stated via Twitter/X that while Ethereum had gained since his initial recommendation to swap ETH for BTC, he maintained conviction in Bitcoin's long-term superiority. “If you put a gun to my head, I’d choose Bitcoin,” he declared, citing Bitcoin's stronger narrative as “digital gold” despite personally avoiding both assets.
Market data reveals a complex backdrop: Ethereum ETFs recorded $461 million inflows, surpassing Bitcoin ETFs' $403.9 million. Simultaneously, Bitcoin's market dominance fell to 59.1% (down 4.91% monthly), while Ethereum's rose to 13% (up 3.34%). The ETH/BTC ratio declined 2.57% to 0.3565, indicating short-term ETH weakness against BTC despite ETH’s price rising 1.14% to $4,213.86 versus Bitcoin’s 0.96% gain to $118,125. Schiff dismissed Ethereum’s $4.5 billion ETF-fueled surge as a “bear market rally,” advising investors seeking crypto exposure to “sell Ether to buy Bitcoin.”