Peter Schiff: Bitcoin has dropped 40% against gold, the digital gold narrative is being questioned Economist Peter Schiff tweeted that Bitcoin has now fallen below $90,000, a 28.5% pullback from its peak; measured in gold, it has dropped nearly 40%. He pointed out that this performance reveals the falsehood of the 'digital gold' narrative, believing that investors will gradually sell off as a result. Schiff, a long-time gold supporter, has often criticized Bitcoin.