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Bitcoin’s Value vs Gold Nears 2017 Levels Despite “Hype,” Peter Schiff Says

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Bitcoin’s Value vs Gold Nears 2017 Levels Despite “Hype,” Peter Schiff Says

Bitcoin’s value relative to gold has slipped close to levels last seen nearly a decade ago, reigniting debate over the cryptocurrency’s long-term performance as a store of value.

Key Takeaways:

  • Bitcoin’s value against gold has fallen near 2017 levels, reviving doubts about its role as a long-term store of value.
  • Peter Schiff says gold and silver have outperformed Bitcoin as investors seek safety.
  • Analysts note shifting investor behavior as demand grows for assets outside government control.

Economist and long-time crypto critic Peter Schiff said Bitcoin is now worth about 15.5 ounces of gold, down 57% from its 2021 peak and only around 10% above its 2017 high when measured against the precious metal.

In a post on X, Schiff argued that despite years of promotion and growing acceptance on Wall Street, Bitcoin has failed to outperform traditional safe havens.

Schiff Says Gold and Silver Outshine Bitcoin as Safe Havens

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He said most current holders would have been better off owning gold or silver instead, pointing to strong gains in precious metals over the same period.

Schiff’s comments come as gold and silver continue to attract inflows amid geopolitical tensions and uncertainty over interest rate policy, while Bitcoin has struggled to regain momentum after recent pullbacks.

“Most people who now own Bitcoin would have been better off buying gold or silver instead,” he wrote.

As reported, Bitwise Chief Investment Officer Matt Hougan has said that gold’s surge past $5,000 an ounce and mounting uncertainty around US crypto legislation are shaping a critical moment for digital asset markets.

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Hougan said the combination of rising demand for assets outside government control and fading confidence in near-term regulatory clarity could influence both crypto adoption and price action in the months ahead.

Hougan pointed out that roughly half of gold’s dollar-denominated value has been created in just the past 20 months, despite its thousands-of-years-long history as a store of value.

He argued the move reflects the long-term effects of expansive monetary policy, rising debt levels, and currency debasement, but also a deeper shift in investor behavior.

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“It shows that people no longer want to keep all of their wealth in a format that relies on the good graces of others,” Hougan wrote.

He also flagged growing uncertainty around the Clarity Act, legislation aimed at cementing a pro-crypto regulatory framework in the US.

Bitcoin Slides as Fed Caution, Geopolitics Sap Risk Appetite

Bitcoin has fallen back below $89,000 after a short-lived rebound, pressured by tighter financial conditions and rising geopolitical stress that have weighed on risk assets.

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According to XS.com analyst Samer Hasn, a Federal Reserve stance that remains neutral to hawkish, combined with tensions in the Middle East, has reduced demand for speculative investments across crypto markets.

Market data points to weakening conviction among traders. CoinGlass figures show crypto futures open interest is down 42% from record highs, with attempted breakouts quickly reversed by sharp sell-offs.

At the same time, capital has rotated toward traditional havens such as gold and silver, leaving digital assets struggling to attract fresh inflows as volatility persists.

With Federal Reserve Chair Jerome Powell signaling little urgency to cut rates and geopolitical risks pushing investors toward tangible assets, analysts say Bitcoin remains a higher-risk trade until either policy eases or global tensions cool.

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Crypto World

Why Cardano Investors Are Moving Assets to Self-Custody Now

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ADA Price


“Currently, a 10 billion market cap, this thing is not even worth $1 billion,” one X user argued.

The latest cryptocurrency market crash was brutal, sending Cardano’s ADA to multi-month lows.

Some analysts believe the storm may not be over, warning the price could nosedive by as much as 75% in the short term.

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The Bad Days for the Bulls Aren’t Over?

Several hours ago, ADA plunged to 0.27, the lowest level since August 2024. Currently, it trades at around $0.29 (per CoinGecko’s data), representing a 15% decline on a weekly scale.

ADA Price
ADA Price, Source: CoinGecko

The well-known analyst DrBullZeus claimed that the asset is now nearing “a must hold support zone” at the range of $0.24-$0.28. He thinks that breaking below that level could result in a price crash to $0.125 and even $0.075.

The popular trader Matthew Dixon also chipped in. He suggested that “technically speaking,” ADA has retraced in three waves since the local top seen towards the end of 2024. He outlined $0.24 as a “very important long-term support,” predicting that as long as it holds, the price could rebound.

“A break of support would be a serious concern,” he alerted.

Prior to that, Harmonic Trader predicted that in six months, ADA might trade under $0.10. “Currently, a 10 billion market cap, this thing is not even worth $1 billion,” they argued.

Time to Rally?

Despite ADA’s recent price decline, some other analysts remain optimistic that a resurgence could be on the way. One of them, using the X nickname “Lucky,” asked their almost two million followers whether they plan to increase their exposure to the token at current rates. The analyst also envisioned a potential pump to nearly $1 in the near future.

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LaPetite is also bullish. Several days ago, he forecasted that ADA is about to go “parabolic,” claiming that “huge announcements” concerning Cardano are coming soon.

The recent exchange netflows signal that a rebound could indeed be on the horizon. Data provided by CoinGlass shows that over the past days and weeks, outflows have significantly outpaced inflows. This means investors have been shifting from centralized platforms to self-custody, which in turn reduces immediate selling pressure.

ADA Exchange Netflow
ADA Exchange Netflow, Source: CoinGlass
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Aave Shutters Avara Brand and Family Crypto Wallet

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Aave Shutters Avara Brand and Family Crypto Wallet

Aave Labs says it is sunsetting its “umbrella brand” Avara in the company’s latest move to refocus on decentralized finance and simplify its branding.

Aave founder and CEO Stani Kulechov posted to X on Tuesday that Avara, a company encompassing projects including the Family crypto wallet and previously the social media platform Lens, “is no longer required as we go all in on bringing Aave to the masses.”

Kulechov said the Apple iOS-based Family crypto wallet was also being wound down as the team has “learned that onboarding millions of users requires purpose-built experiences, such as savings, rather than generic, open-ended wallet experiences.”

The move marks Aave’s latest effort to refocus on products such as its flagship lending protocol as the project handed stewardship of Lens to the Mask Network last month, with Kulechov saying Aave’s role in the protocol would be reduced to an advisory role so it can focus on DeFi.

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Source: Stani Kulechov

Kulechov said in his latest post that Aave was “now united as one team of world-class designers, engineers, and smart contract experts, aligned around a single mission: bringing DeFi to everyone.”

All future projects under Aave Labs

Avara said in a blog post that “all current and future products, including the Aave App, Aave Pro, and Aave Kit, will operate under Aave Labs” to simplify the brand.

It added that accounts linked to the Family wallets “will continue as core infrastructure within Aave Labs products,” but the iOS app would be wound down over the next year.

No new users will be onboarded to the app from April 1, and existing users can continue using the app until April 1, 2027, and will continue to have full access to their funds on Aave’s website.

Related: There is no trust in DeFi without proper risk management

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Aave is the biggest DeFi protocol with $30 billion in total value locked, nearly $9 billion more than the next largest project, the staking protocol Lido, which has $21.7 billion in value locked, according to DefiLlama.