Bitcoin Critic Peter Schiff Becomes Unexpected Influencer as NFT Market Shows Signs of Revival

Bitcoin Skeptic Admits Influence on Crypto Adoption

Peter Schiff, one of cryptocurrency's most vocal critics, has made a surprising acknowledgment about his impact on the digital asset space. The U.S. economist and precious metals dealer recently revealed that despite his persistent criticism, he has inadvertently driven many people to purchase Bitcoin ^[1].

"I know first-hand that despite my criticism of cryptocurrencies, many people own Bitcoin because of me," Schiff stated in an interview with Coindesk, adding with a smile that he has "moved many people to buy Bitcoin, although that was not my intention" ^[1].

The admission comes after Schiff secured a spot on a list of top crypto influencers, a development that elicited a surprisingly positive reaction from the longtime Bitcoin opponent ^[1].

Recent Performance Favors Precious Metals

Schiff's criticism has intensified in recent weeks as Bitcoin's price stagnated while gold prices climbed. The 2025 trading year clearly supported his position, with Bitcoin experiencing a 6 percent loss while gold rose 66 percent and silver surged 163 percent ^[1].

Just two weeks prior to his Coindesk interview, Schiff wrote on X: "If Bitcoin doesn't rise when tech stocks rise, and it doesn't rise when gold and silver rise, when will it rise? The answer is: It won't rise at all" ^[1]. He further predicted that what was happening with silver could soon happen with Bitcoin, "only in reverse," suggesting Bitcoin holders would be fortunate if they didn't have to "die a slow death" ^[1].

Community Sentiment Remains Pro-Bitcoin

Despite Schiff's bearish outlook, a recent poll he conducted on X revealed strong community support for Bitcoin. When asked how they would invest $100,000 that must be held until December 19, 2028, nearly 64 percent of the 34,000 participants chose Bitcoin, compared to 20 percent for gold and 16 percent for silver ^[1].

Celebrity Token Collapse Underscores Market Risks

The cryptocurrency market's volatility was starkly illustrated when former New York City Mayor Eric Adams launched the NYC Token on Monday, only to see it crash 80 percent within hours ^[2]. Adams, who had championed crypto adoption during his tenure by converting his first mayoral paychecks into Bitcoin and signing an executive order to promote digital assets, unveiled the Solana-based token at a Times Square event ^[2].

The token was promoted as a funding mechanism for social causes including combating antisemitism and "anti-Americanism," as well as supporting blockchain education and student scholarships ^[2]. Adams told Fox Business that proceeds would benefit nonprofits like Combat Antisemitism and historically Black colleges and universities without raising taxes ^[2].

Initial investor interest briefly drove the NYC Token's market capitalization into the hundreds of millions of dollars, reaching $580 million before the collapse eliminated nearly $500 million in market value ^[2]. On-chain analysts and traders quickly accused the project of being a rug pull, where insiders withdraw liquidity to the detriment of ordinary investors ^[2].

NFT Market Poised for Recovery

While speculative tokens face scrutiny, the non-fungible token market is showing signs of potential revival despite its dramatic decline since the 2021-2022 peak. Most blue-chip NFTs have experienced price drops exceeding 70 percent from their all-time highs ^[3].

Gary Vaynerchuk, Chairman of VaynerX and CEO of VaynerMedia, remains bullish on the sector's future. "NFTs are forever," he has stated, maintaining that NFTs will eventually be viewed like other collectibles such as baseball cards and comics ^[3].

Vaynerchuk predicts CryptoPunks will emerge as the top-tier NFT collectible, followed by pre-2021 NFTs with strong provenance, and finally a small set of five to six projects led by founders with exceptional execution capabilities ^[3]. His VeeFriends NFT collection features 10,255 NFTs on the Ethereum network, serving as both digital art and access tokens for the annual VeeCon conference ^[3].