Schiff's Bitcoin Preference Amid ETH's Market Share Gains
Schiff Sticks With Bitcoin Despite Ethereum's Surge
Economist Peter Schiff has reaffirmed his preference for Bitcoin (BTC) over Ethereum (ETH), even as Ethereum experiences a rally and a shift in market share. Schiff's comments follow his previous advice to investors to convert their ETH holdings into Bitcoin.
He noted that while his recommendation initially performed well, Ethereum's recent surge has altered the landscape. Schiff maintains he has no interest in owning either cryptocurrency but would choose Bitcoin if forced to select one.
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
Ethereum's price has continued its bullish trend, breaking past the $4,000 mark and reaching new highs for 2025. This rally is supported by significant whale transactions and increased activity in derivatives markets.
Despite these gains, Bitcoin remains the dominant cryptocurrency by market capitalization, holding strong above $100,000 due to continued investments in spot BTC ETFs and demand from corporate treasuries.
Bitcoin Dominance Declines Amid Altcoin Gains
Bitcoin's market share has decreased to 59.1%, a 4.91% drop from the previous month. Conversely, Ethereum's market share has risen to 13%, a 3.34% increase, while other cryptocurrencies now hold a combined 28%, up 1.57%, according to data from CoinMarketCap.
This represents a significant shift from just a month prior, when Bitcoin held 63.9% of the market, Ethereum 9.7%, and other altcoins 26.4%. This trend signals a rotation of capital from Bitcoin into Ethereum and various altcoins.
Bitcoin's dominance over the past week was 61.2%. The drop comes after Bitcoin reached a yearly dominance high of 65.1% on June 27, 2025. Ethereum is approaching the upper end of its yearly range, while Bitcoin has pulled back. The lowest Bitcoin dominance level in the last year was 53.9%, occurring in December 2024.
While Bitcoin's dominance has decreased, it still outweighs Ethereum's market share. The narrowing gap indicates increasing competition as capital flows diversify. The future of dominance will likely depend on macroeconomic conditions, institutional activity, and Ethereum's ability to sustain its current momentum.