Peter Schiff, a noted economist and crypto critic, has once again addressed the comparison between Bitcoin and Ethereum in his recent remarks. Against the backdrop of Ethereum's recent price growth, his comments have sparked active discussion within the crypto community.
Peter Schiff's Position
Schiff urged investors to ditch Ethereum and invest in Bitcoin. In his [tweet](https://x.com/peterschiff/status/1947342598928003505?s=46), he stated, "Ether is back near the upper end of its trading range again. If you own any, this is a great time to sell. As much as it pains me to say, selling Ether and buying Bitcoin with the proceeds is a better trade than holding Ether." Schiff remains pessimistic about Bitcoin as well, believing Ethereum has lost its uniqueness amid increasing competition.
Ethereum's Surge Amid Institutional Inflows
Despite Schiff's criticism, Ethereum has shown a rise, hitting a new record at $3,700. This surge occurred due to significant institutional inflows and a recovery in market confidence. ETH has risen over 25% in the last week, driven by both technical momentum and news of large companies, such as BitMine and SharpLink Gaming, making purchases.
Crypto Community's Responses
The crypto community swiftly responded to Schiff's comments. SharpLink Gaming edited Schiff's post to advocate for staking Ethereum instead of dumping positions. Analyst Benjamin Cowen further commented that Schiff's warning might be too late, as the Ethereum-to-Bitcoin ratio had likely already bottomed before his remarks.
While Peter Schiff continues his critique of Ethereum, his comments only highlight the ongoing disagreements within the crypto community. The debates over the futures of Bitcoin and Ethereum seem unlikely to quiet down as the market continues to evolve.
