After Peter Schiff questioned the wisdom of hoarding Ethereum at $1,200, the second-largest cryptocurrency has since surged 116%.
The renowned economist Peter Schiff is well-known for his disparaging comments regarding Bitcoin BTC/USD -1.00% + Free Alerts, but he has also periodically made fun of Ethereum ETH/USD -4.00% + Free Alerts, its younger sibling.
What happened: After a huge bull run in 2021, the cryptocurrency market began to decline drastically in 2022. When ETH fell from $3,450 in April to the early $1,000s by mid-June, it wasn’t aloof.
Schiff expressed a pessimistic view in a May post on X, which was then moved to Twitter, predicting that Ethereum will drop to a price of about $1,000.
In the following two weeks, the second-largest cryptocurrency fell below $1,200, confirming his prediction.
Less than three weeks ago, I issued a warning to you all about this. It’s your fault if you’re still hoarding Ethereum at $1,200,” Schiff stated.
But this was nearly three years ago. Fast forward to 2025, and ETH was trading at $2,595.26 as of this writing, representing a massive 116% upside.
Therefore, $1,000 would be worth $2,162 today if you wagered it on an inverse Schiff trade (if such a thing exists) and invested it in Ethereum.
Schiff has criticized the Trump administration’s support for spot Ethereum ETH/USD -4.00% + Free Alerts exchange-traded funds.
In early March, he stated, “ETH still has a long way to fall, which is the worst part for investors.”
However, it is important to remember that ETH has had a difficult time in the short term, losing 11% in a single year and 23% since the start of 2025. Experts pointed to a number of reasons for the poor performance, such as inflation brought on by the Dencun Upgrade and a move in on-chain meme activity to other networks like Solana SOL/USD +6.00% + Free Alerts.
Price Action: According to Benzinga Pro statistics, ETH was trading at $2,595.26, down 3.56% over the previous day, at the time of writing.
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