Gold’s Gleaming Revenge: Schiff’s Smug Grin & Bitcoin’s Blush

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Oh, the sweet, sweet schadenfreude of it all. Peter Brandt, the commodities trader with a penchant for charts and a soft spot for Bitcoin, has taken to his X account (because who needs a life when you have social media?) to concede that the gold bugs, those shiny-metal-loving Luddites, are having their moment in the sun. And who’s leading the victory lap? None other than Peter Schiff, the economist whose disdain for Bitcoin is only matched by his love for gold and his ability to say “I told you so” without actually saying it.

Brandt, ever the optimist with a side of snark, shared a logarithmic chart (because nothing says “I’m serious” like a logarithmic chart) showing gold’s meteoric rise since 1976. According to him, if this bull cycle is anything like the last ones, gold could hit $8,000 per ounce. That’s right, $8,000. Enough to make even the most die-hard Bitcoin maximalist consider hoarding jewelry instead of JPEGs.

And let’s not forget the geopolitical tensions between the U.S. and Denmark. Yes, Denmark. Apparently, the world’s reserve currency is now at the mercy of a country best known for Legos and hygge. Who knew?

“$8,000 is in the cards”

Brandt’s chart, a masterpiece of lines and numbers, reveals three bull cycles for gold, with the current one starting in 2022. At this rate, he predicts gold will soar to $8,000 per ounce, assuming this cycle is as robust as its predecessors. Just recently, gold hit a new all-time high above $4,800 per ounce, leaving Bitcoin in the dust-or at least in the shadow of a very shiny rock.

Brandt couldn’t resist adding that despite the crypto crowd’s relentless mocking of Schiff, the gold guru is “having the last laugh.” And let’s be honest, it’s a laugh that sounds like a cross between a smug chuckle and the clinking of gold coins.

If current bull cycle in Gold is similar in scope to previous bull cycles, then $8,000 is in the cards
For all the grief given to @PeterSchiff especially by the cryptocultists, he is having the last laugh $GC_F #GOLD

– Peter Brandt (@PeterLBrandt) January 21, 2026

It’s worth noting that Brandt, who often refers to crypto fans as “cryptocultists” (because nothing says “I’m impartial” like a good insult), only acknowledges Bitcoin as the one true cryptocurrency. Yet, he occasionally shares charts on Ethereum, XRP, Solana, and even DOGE, claiming it’s just part of his job as a trader. Sure, Peter. Sure.

Mike Novogratz on gold surge and future Bitcoin growth

Meanwhile, Mike Novogratz, the founder of Galaxy Digital and a man who clearly has a lot of time on his hands, tweeted about gold’s surge, claiming it signals the U.S. dollar is “losing the reserve currency status at an accelerating rate.” He also mentioned that long bond selling is off, which is “not a good sign either.” Thanks, Mike. We were having such a nice day.

Novogratz admitted that Bitcoin’s current performance is disappointing, with BTC still facing selling pressure. According to him, Bitcoin needs to hit at least $100,000-$103,000 to regain its upward trend. “I still think it will in time,” he said, probably while staring at a crystal ball or a very expensive chart.

The gold price is telling us we are losing reserve currency status at an accelerating rate. The long bond selling off is not a good sign either. $BTC is disappointing as it is still being met with selling. I will reiterate it has to take out 100-103k to regain its upward…

– Mike Novogratz (@novogratz) January 20, 2026

As of now, Bitcoin is trading at $89,360 per coin, which is either a bargain or a bubble, depending on who you ask. But one thing’s for sure: Peter Schiff is somewhere, sipping tea and smiling like the cat who ate the canary-or in this case, the cat who hoarded all the gold.

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2026-01-21 15:03