Peter Schiff renewed his criticism of Bitcoin (CRYPTO: BTC) after the cryptocurrency slipped below $68,000, arguing investors would have generated far larger returns elsewhere over the last five years.
BTC Failure To Outperform Schiff's comments in a X post on June 2 sparked pushback from crypto traders who accused him of ignoring Bitcoin's massive long-term gains after previously discouraging investors from buying the asset near $1,000.
"Saying BTC investors missed out on huge gains is pretty shameless," the trader responded.
"You are the guy who advised people not to buy BTC when it was $1,000." Schiff highlighted that Bitcoin failed to outperform several major traditional assets since first reaching the $69,000 level in November 2021.
"Despite the unprecedented hype, Bitcoin investors missed out on huge gains in risk and safe-haven assets," Schiff wrote.
