Gold is money, says Peter Schiff as price hits $3,500 ATH

Gold’s abnormal 31% rally in 2025 holds negative implications for the US dollar, gold advocate Peter Schiff said.

Amid gold reaching new highs above $3,500, Peter Schiff — a prominent gold advocate and Bitcoin critic — argued that the precious metal is money, fueling backlash from the crypto community.

“Gold is not just any commodity, it’s money,” Schiff wrote in an X post on April 22 after gold prices briefly broke above $3,500.

While praising gold, Schiff sounded the alarm about the state of the economy, emphasizing that gold’s abnormal rally in the past few weeks holds negative implications for the US dollar.

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