Peter Schiff's entire business is based on him convincing others about gold as a good long term investment, so I really doubt that he's going to give up any time soon. However, we're seeing some other gold bugs like Mike Maloney switch to a more pro-bitcoin stance.

Admitting that bitcoin was a superior investment is one thing, but they're probably just going to continue to tell others to hoard silver and gold into the future, regardless of past performances.

I think that precious metals can be a good store of value in the long run, but it's doesn't have anything close to bitcoin in terms of its long term potential. Besides, bitcoin basically fulfills all the roles that gold and silver used to play in the past.