Peter Schiff Makes the Case for Silver: High Upside, Low Risk

In a recent post on X, renowned gold advocate and Bitcoin skeptic Peter Schiff stated that “there is so much upside in silver right now, with very little downside,” adding that “if anyone is looking for an alternative to gold, it makes no sense to buy Bitcoin when you can buy silver” .His assertion comes amid a sharp rally in silver prices, driven by increasing industrial demand and investor interest.

Silver has climbed roughly 27% year-to-date, reaching around $36.87 per ounce in mid-June—levels unseen since 2011, marketwatch.com. As of June 20, Kitco reported spot silver at $35.93–$36.05, while spot gold hovered at $3,367 per ounce.

Investors are drawn to silver’s dual role as both an industrial commodity and a safe-haven asset. Demand from sectors like solar energy, electronics, and cutting tools has sustained price momentum. Barclays analyst Maria Smirnova noted the significance of the pullback in the gold-to-silver ratio—from long-term averages around 65 to approximately 91 today—signaling silver may be undervalued relative to gold.

Silver hasn’t hit its all-time nominal highs of $48.70–$49.45 in 2011 and 1980. Intraday prices even touched $50 in January 1980 during the infamous Hunt Brothers squeeze. Adjusted for inflation, that 1980 peak equates to around $185 in today’s dollars. Despite fleeting spikes, silver’s current trajectory remains far from historical extremes.

While Bitcoin has recently surged—with ETFs lifting its price above $70,000—it remains a volatile asset. Fiat‑column analysts warn that its value is highly contingent on speculative sentiment and ETF inflows. In comparison, silver offers lower downside risk due to its industrial base and historical stability. Schiff concluded that silver has “far more realistic upside potential than Bitcoin, with significantly less downside risk.”

Citi forecasts silver could rise to $40 per ounce in the next 6–12 months and possibly reach $46 by Q3 2025, citing tight supply and robust demand.

Gold remains strong, trading near $3,367–$3,388/oz amid geopolitical concerns, including recent tensions in the Middle East. However, Citi suggests gold may decline to $2,800–$3,000 by late 2025, while silver holds more upside in the $40–46 range.

Peter Schiff’s assertion highlights a broader investment trend: as gold's lofty prices and global uncertainties persist, silver offers a balanced alternative, benefiting from industrial demand and safe-haven appeal. While it hasn’t breached past peaks, silver’s current rally, valuation support, and expert forecasts suggest tangible upside, challenging the narrative that Bitcoin is the next gold.

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