The Nasdaq is getting absolutely demolished right now, down over 8.21% since January.

Bitcoin's not faring any better, dropping a painful 11.25% in what was supposed to be its post-ETF glory days.

Meanwhile, gold is pumping hard to new all time highs – up a massive 15.1% and showing no signs of slowing down.

Gold Bug's Revenge Tour

Peter Schiff is practically doing victory laps on Twitter right now.

The gold permabull who's been calling Bitcoin's demise since it was $100 is finally having his moment in the sun.

He's now warning that if the Nasdaq officially enters bear territory, Bitcoin could crash all the way to $65K or even $20K.

That sound you hear is the collective gasp of everyone who bought the top.

A Reasonably Well Earned Victory Lap

Schiff is drawing parallels to previous market meltdowns as hard as he can, referencing the ghosts of bear markets past. 

He's pointing to the 2008 crisis when the Nasdaq dumped 55% and the COVID crash that wiped 30% off tech stocks.

His basic thesis: when markets go down, investors flee to safety, and Bitcoin ain't it.

Meanwhile, gold is sitting pretty like it's 1971 all over again, when the dollar decoupled from the yellow metal and everyone panicked.

A New Paradigm Rising

Gold spot price has climbed from $2,623 to numbers that would make a Bitcoin maxi cry into their laser-eyed profile pic.

Schiff is now calling for $3,800 gold if the Nasdaq keeps tanking – that's nearly a 50% pump from here.

The ultimate "I told you so" moment might be coming for the man who's been crypto's biggest critic for over a decade.

The inverse correlation between stocks and gold is playing out in real-time, and Bitcoiners are getting nervous.

The Institutional Exodus

Schiff warns that the big boys might start heading for the exit if things get worse.

MicroStrategy and other corporate Bitcoin holders could dump their bags faster than retail did after the 2021 crash.

Even governments might rethink their Bitcoin positions if gold keeps outshining the digital alternative.

The institutional support that pushed Bitcoin to $100K could evaporate quickly as these giant seek a more historically reliable asset for times of macroeconomic uncertainty. 

Remembering 2024

Let's not forget that Bitcoin absolutely demolished gold last year with a 121.28% gain compared to gold's respectable 27.21%.

One bad quarter doesn't erase a decade of outperformance, but momentum shifts can happen faster in crypto than most people realize.

The gold vs. Bitcoin debate is the oldest and most tiresome in all of crypto – yet here we are again having the same argument.

It's like watching the same movie for the tenth time and still not knowing how it ends.

Worth Its Weight In Gold

Schiff has been wrong about Bitcoin a lot –  gold bugs and Bitcoin maxis are two sides of the same "my asset is better" coin that's been flipping for years.

Markets move in cycles, and what looks like a trend today could be reversed faster than you can say "digital gold."

Satoshi might well be out there laughing at the idea that his creation is being compared to a shiny rock we dig out of the ground.