Economist Peter Schiff has criticized Bitcoin's performance, highlighting its underperformance compared to precious metals. Schiff noted that Gold and Silver have reached record highs, with Gold at $4,967 per ounce and Silver at $99.24 per ounce, while Bitcoin trades near $89,234, down 0.6% for the day and about 30% below its previous peak. Schiff argues that the current economic conditions, marked by a weakening U.S. Dollar Index, which fell to 98.37, favor traditional stores of value like Gold and Silver. He contends that Bitcoin's inability to match the gains of precious metals raises questions about its role as a hedge during monetary stress. Schiff also pointed out that Bitcoin has lost more than 50% of its value relative to Gold since November 2021, suggesting a long-term erosion of purchasing power. Despite acknowledging Bitcoin's early success, Schiff believes its performance has declined with increased institutional participation. He warns that Bitcoin's prolonged underperformance could lead to a market correction, reinforcing his preference for Gold and Silver as safer havens during economic uncertainty.