Analyst Peter Schiff says Bitcoin will probably go to Zero

American stockbroker and financial analyst Peter Schiff has predicted that Bitcoin will collapse to near zero, citing his long-standing argument that digital assets have no intrinsic value.

Schiff, who is well known for his advocacy of gold investment, believes commodities like gold are real money. He thinks they should receive as much attention as Bitcoin. He argues that Gold is used by industries, has a historical precedent, and has sufficient scarcity to remain valuable for a very long time.

Bitcoin, on the other hand, is a speculative asset backed by nothing but the common belief that it could go bust at any time.

Shiff’s latest prediction has a twist. He stated that Bitcoin might not go to actual zero due to its widespread adoption. However, the digital asset could drop so close to zero that investors will no longer bother with it.

Peter Schiff’s doomsday call on Bitcoin is no longer news to Bitcoin enthusiasts. They readily point out that he has been predicting Bitcoin’s collapse for more than a decade. However, Bitcoin’s poor performance this year and sharp decline, from breaking the psychological $100,000 barrier last year to hovering at $60,000, call for concern.

Schiff’s argument borders on nostalgia. He sees Gold as the ultimate store of value, as it has been for ages. His critics, however, point out that Bitcoin is digital gold, capped at a fixed supply of 21 million. It is decentralised and is already gaining widespread institutional adoption.

Bitcoin’s performance over the years has forced some top financial figures to retract their negative predictions of the digital asset. Larry Fink, CEO of BlackRock, the world’s largest Asset manager, retracted his statement that Bitcoin is a conduit for fraudsters. He now believes the asset is Digital Gold, which influenced BlackRock’s decision to launch a Bitcoin Exchange-Traded Fund (ETF).

American President Donald Trump ran a pro-Bitcoin campaign, promising to make America the capital of Bitcoin. He also promised to establish a Strategic Bitcoin Reserve (SBR). The SBR is a state-backed Bitcoin reserve that serves as the ultimate indicator of the country’s belief in the Bitcoin Project.

Despite recent slumps, Bitcoin’s capped supply and massive adoption remain reasons to be optimistic about the project. Bitcoin has surged by 114,000 per cent since its launch. It has risen from an all-time low of $67.81 to $77,278 as of this report.

Last updated: April 29, 2026