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st Peter Schiff prefers Bitcoin over Ethereum despite ETH’s recent strong price rally.
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Bitcoin’s dominance has dropped to 59.1% while Ethereum’s market share grows.
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Schiff believes Bitcoin remains a better long-term investment than Ethereum.
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Ethereum’s rally is supported by whale transactions and speculative interest.
Peter Schiff, an economist and vocal Bitcoin critic, continues to prefer Bitcoin over Ethereum, despite Ethereum’s recent price surge. The economist reaffirmed his stance on social media, stating that although Ethereum had rallied recently, he would still choose Bitcoin if he had to pick between the two cryptocurrencies. Schiff noted that Ethereum’s recent performance did not change his view, even though it temporarily outperformed Bitcoin.
Economist Schiff also mentioned that he had advised investors to switch from Ethereum to Bitcoin earlier, and while Ethereum had gained value recently, he still expected Bitcoin to prove the better investment in the long run. Schiff, who is known for advocating gold over cryptocurrencies, stated that he had no interest in owning either cryptocurrency but would pick Bitcoin if forced to do so.
Ethereum’s Recent Surge Cuts Bitcoin’s Market Share
Despite Peter Schiff’s preference for Bitcoin, Ethereum has shown strong performance, especially over the last week. Ethereum’s price broke the $4,000 mark and reached a new high for 2025. Ethereum’s recent bullish behavior coincided with an increase in whale transactions and rising derivatives activity, which further fueled speculation around the token.
The increased trading volume and open interest in Ethereum suggest that institutional investors and traders are increasingly interested in the asset.
Well Ether is up a bit since I recommed switch it into Bitcoin, but I still think the trade will work out. If fact, it was woring well initially, until Ether just rallied late last week. I have no interest in owning either, but if you put a gun to my head, I'd chose Bitcoin.
— Peter Schiff (@PeterSchiff) August 9, 2025
However, this surge in Ethereum’s price and market activity has resulted in a noticeable shift in market dominance. Bitcoin’s market share has fallen to 59.1%, a drop of nearly 5% from the previous month. In contrast, Ethereum’s market share has risen to 13%, marking a gain of over 3%. These shifts reflect a broader trend of capital moving out of Bitcoin and into Ethereum and other altcoins, a trend that Schiff acknowledged while maintaining his preference for Bitcoin.
Bitcoin’s Dominance Decline Reflects Changing Market Trends
Bitcoin’s dominance in the overall cryptocurrency market has been declining. From a high of 65.1% in June 2025, Bitcoin’s market share has now dropped to 59.1%. This represents a significant change in the market dynamics, as Ethereum’s market share has risen from 9.7% to 13%.
The rise of Ethereum and other altcoins is a reflection of growing diversification in cryptocurrency portfolios, as more investors seek exposure to a broader range of assets beyond Bitcoin.
While Bitcoin still holds a commanding lead over other cryptocurrencies, the narrowing gap between Bitcoin and Ethereum suggests increased competition for market share. The overall market dominance of altcoins, including Ethereum, now stands at 28%, up from 26.4% last month. This shift could indicate that investors are looking beyond Bitcoin for potential growth, especially as Ethereum strengthens its position in the market.
Factors Behind the Decline in Bitcoin’s Dominance
Several factors are contributing to the decline in Bitcoin’s dominance. One of the key reasons is the growing institutional interest in Ethereum, which has become more attractive due to its functionality and the expanding ecosystem around decentralized finance (DeFi). Ethereum’s network upgrades and its role in smart contracts have made it a more versatile platform compared to Bitcoin, which is primarily viewed as a store of value.
Additionally, the ongoing developments in Ethereum, such as the surge in transaction volume and its integration with various decentralized applications, have drawn more attention from institutional players. These factors have led to a stronger market position for Ethereum, which continues to challenge Bitcoin’s dominance in the broader cryptocurrency space.
However, despite these shifts, Bitcoin remains the largest cryptocurrency by market capitalization and continues to attract institutional interest. The recent approval of Bitcoin ETFs and the demand for Bitcoin from corporate treasuries have helped maintain Bitcoin’s position as the leading cryptocurrency.
