Bitcoin’s BTC ongoing consolidation phase has sparked a heated debate, with critics pointing to gold’s breakout as proof that BTC has lost steam.

What Happened: Bitcoin critic Peter Schiff noted that Gold GLD surged to fresh all-time highs around $3,600 as the Federal Reserve prepares to cut rates despite sticky inflation.

By comparison, Bitcoin has failed to respond, lagging gold’s breakout and sitting about 15% lower vs. gold than its 2021 peak, Schiff argued.

He framed the divergence as proof that investors backing Bitcoin over gold “picked the wrong horse.”

Bitcoin proponents fired back, with one quipping that “gold may win the sprint, but Bitcoin will win the marathon,” and others…

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