Woofun AI reports that economist Peter Schiff asserted Bitcoin’s perceived correlation with gold was a myth, highlighting its divergence from both gold and the Nasdaq in 2026. Schiff contends that if Bitcoin were "digital gold," it would have risen with precious metals during economic uncertainty, yet it traded lower while gold and tech stocks advanced. He also noted the weakening link between BTC and technology equities, which historically moved in tandem due to liquidity conditions.

Supporters reject the notion that short-term price action invalidates Bitcoin’s long-term value, pointing to expanded institutional participation via spot ETFs and corporate treasuries. They emphasize Bitcoin’s mathematically predictable scarcity of 21 million coins, contrasting it with gold’s increasing supply. On-chain analysts view current consolidation as typical historical behavior rather than structural failure.