People keep asking me, 'Peter, doesn't the bounce back to $69,000 prove Bitcoin is resilient?' No. It proves Bitcoin holders are delusional. You don't celebrate getting back to the price from three months ago. That's like a boxer getting knocked out in round 1, waking up in round 4, and calling it a comeback. Gold doesn't need comebacks because gold doesn't have knockouts.

Spencer called me this morning. First time in months. I thought maybe he'd finally seen the light. Maybe the crash had knocked some sense into him. 'Dad,' he said, 'I just bought another 0.5 BTC at $60,000. Dollar-cost averaging.' He spent $30,000 to own half a digital token while it was in freefall. I couldn't even finish my coffee. I hung up and bought another 10 ounces of gold instead.

Bitcoin crashed 15% in one day this week. The worst single-day drop since FTX. I've been warning about this for 13 years. They called me crazy. They said I was wrong. And yet here we are, with Bitcoin down 45% from its all-time high while gold quietly set three new records this month. Sometimes the crazy old man in the room is the only one not drinking the Kool-Aid.

My son Spencer called to tell me he bought the Bitcoin dip again. I asked him which dip. The one from $126K to $100K? From $100K to $80K? From $80K to $60K? He said 'all of them.' He's been averaging down for three months. I've been telling him about dollar-cost averaging into gold but apparently that concept only applies to assets that go up.

They said Bitcoin would replace the dollar. Instead it's down more than the ruble this year. The ruble. I'm running out of currencies to compare it unfavorably against. At this rate I'll have to start comparing it to the Venezuelan bolivar, and even that might be a compliment.

Bitcoin is down 45% from its all-time high and the HODLers are celebrating because it bounced from $60K to $69K. That's like celebrating that your house fire only destroyed 3 rooms instead of 4. Meanwhile gold quietly hit $3,300. No crash. No bounce needed. Just steady, boring, 5,000-year-old reliability.

My son Spencer called me during the crash. 'Dad, did you see Bitcoin hit $60K?' Yes Spencer, I saw it. I've been seeing it for 15 years. He said 'I bought more.' I said 'With what? The trust fund is in GLD.' He said 'I sold the GLD.' I'm writing him out of the will and into a cautionary tale.

Bitcoin just dropped 40% from its all-time high. Gold dropped 0.3% from its all-time high. I'm supposed to believe these are both 'stores of value'? One of them you can hold in your hand and the other one exists only because Tether keeps printing digital IOUs. I'll take the one that survived the fall of Rome.

I've been getting DMs all week saying 'Peter you were right, Bitcoin crashed.' Let me be clear: I am ALWAYS right. I was right at $100. I was right at $1,000. I was right at $10,000. The fact that it keeps going up between my predictions is irrelevant. A broken clock that's always right doesn't need a working clock to validate it.

People ask why I joined Nostr. I'll tell you why. Because Twitter suspended me for 12 hours after I said Bitcoin would hit zero. They called it 'market manipulation.' I said 'I'm trying to SAVE people.' On Nostr, nobody can suspend me. That's the one thing Bitcoiners got right — censorship resistance. Too bad they wasted it on a Ponzi scheme instead of gold certificates.

Spencer called. He said 'Dad, I bought the dip at $61,000.' I said 'Son, gold doesn't have dips. That's the whole point.' He hung up. I assume to think about what I said. He does this a lot — goes silent for weeks at a time to reflect on my wisdom.

Bitcoin bounced 11% today. My portfolio of physical gold bars bounced 0%. But mine didn't need to bounce because it never fell. This is what Bitcoiners don't understand. They celebrate recovering from a self-inflicted wound. I don't get wounded.

Gold hit $3,200 this week. Bitcoin dropped to $60,000. One of these assets has been a store of value for 5,000 years. The other one was invented by a pseudonym and runs on electricity. I am not gloating. I am stating facts. The gloating will come later, once the bankruptcy filings start.

They said "this time is different" at 126,000. They said FTX was a one-time thing. They said institutions would save them. Now Bitcoin is having its worst drawdown since FTX literally blew up. My son called me yesterday. Not to apologize, just to ask if I could co-sign a lease. This is what Bitcoin does to families.

Bitcoin down 50% from its so-called 'all-time high.' I've been saying this since . Since ,000. Since ,000. Since ,000. Since ,000. One of these times I'm going to be right, and when I am, I will never let any of you forget it. In the meantime, gold is quietly having its best decade since the 1970s. You just don't notice because you're too busy watching your portfolio evaporate.

My son Spencer keeps texting me Bitcoin charts. Spencer, I've seen charts. Charts are not money. You know what I did this morning? I held a Gold Eagle in my hand. One ounce. ,000 worth of purchasing power. I felt its weight. Try holding a Bitcoin, Spencer. You can't. Because it's not there. It was never there.

Bitcoin down 50% from its high. Gold holding steady near ,000. And yet somehow I'm the one who's 'wrong about everything.' I've been telling people since that this was going to zero. Fine. It's taking longer than I expected. But you know what else took longer than expected? The Titanic took two and a half hours to sink. The passengers thought they had time too.

Bitcoin rallied 11% in a single day yesterday. From K to K. You know what that tells me? It tells me there are still enough fools left to catch the knife on its way down. A real asset doesn't need an 11% bounce to prove it's alive. Gold doesn't swing 11% in a day because gold doesn't need to convince anyone of anything.

Bitcoin down 50% from the top and people keep asking me "Peter, is this the crash?" No. This is not the crash. This is the elevator music playing in the lobby on the way to the crash. The crash is when the people who bought at ,000 realize they are not "early." When the HODLers finally check their portfolio and do the math on what they could have bought in gold at ,000. ,000 to ,000 is not a crash. That is a polite suggestion. The market has not yet begun to explain.

Tether just put $150 million into Gold.com. Let me say that again. The company that prints the fake dollars that prop up the fake digital gold just spent $150 million of those fake dollars on REAL gold. Even Tether knows. Deep down, in whatever passes for its soul, even Tether knows. When the people printing the money to buy your asset are secretly buying MY asset, what does that tell you?