Gold Proponent Peter Schiff has stated that it is hard to believe Bitcoin is still above $65k and holders should cash out while they can. His comments came after Bitcoin maximalist David Bailey’s firm, Nakamoto, reportedly sold $20 million worth of BTC at a 40% loss, signaling the deep capitulation phase we are in right now.
Exchange Fool’s Gold for the Real Thing–Peter Schiff Advises BTC Holders
Schiff, known for his deeply rooted Bitcoin skepticism, tweeted:
Schiff often gives reductive insights into the cryptocurrency scene, often comparing it to a long-term scam that traps investors. He also predicted in previous weeks that BTC could fall as low as $10,000, and the poor performance of the digital currency sector relative to Gold has only emboldened his social media rage-baiting in recent times.
His latest post warns Bitcoin holders to sell amid geopolitical tensions and market volatility that have driven BTC prices down from recent highs above $70,000 to around $66,000. He prefers Gold over the premier digital currency and promotes his own gold dealership in the process.
Schiff’s tweet invited criticism and comedic responses from the Twitterati, who called him out for failing to recognize the value of the last 15 years of Bitcoin’s existence.
 
One user replied:
Nakamoto Offloads $20 Million in BTC–Gets Called For it
Prominent Bitcoin advocate David Bailey’s firm, Nakamoto Inc., has reportedly sold 284 BTC worth about $20 million at roughly $70,000 per coin. While firms regularly buy and sell crypto, Bailey’s company reportedly suffered a 40% loss after buying the digital asset back when it was worth around $118,000.
Given that its prominent financier is a BTC HODLer, the sale is being viewed negatively by the crypto community. However, the company still holds more than 5,000 BTC in its wallets, worth over $350 million, and the recent liquidation represents only a fraction of the company’s crypto holdings.
Nakamoto was rebranded as a BTC treasury company after pivoting from healthcare to a Bitcoin treasury strategy launched via a 2025 merger with KindlyMD. It followed the footsteps of more famous organizations like Strategy, which are in the much-publicized crypto treasury business. However, Bailey’s credentials as a true maximalist are up for debate as X users have continued to criticize his decisions, accusing him of being a “grifter” who capitulates at the wrong time. The company’s stock has plunged 99% since mid-2025, adding to its ongoing liquidity woes.
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