A long-time Bitcoin (BTC) critic is once again predicting that the world’s largest cryptocurrency will ultimately fall to zero.
In a recent conversation with Sujal Jethwani, popular hedge fund manager and outspoken skeptic of digital assets, Peter Schiff argued that Bitcoin’s long-term value proposition is fundamentally flawed, despite its global adoption and persistent trading activity.
Schiff’s comments appear at a time when Bitcoin is recovering from one of its worst wipeouts in years. Last week, King Crypto fell below $63,000, almost a 50% drop from its peak of $124,000 last year October.
Related: James Heckman tells Peter Schiff he is the ‘greatest voice for Bitcoin’
Schiff said he does believe Bitcoin will eventually be worth nothing, even if it does not happen in the immediate future.
“Well, think eventually it will be at zero…But I think at this point, there are so many people around the world that are into Bitcoin. I just can’t see there being no demand for it. At this point.”
He added that while Bitcoin may never fully disappear from trading screens in the near term, its price could fall so dramatically that the distinction between “near-zero” and zero becomes meaningless for most investors.
According to Schiff, even if Bitcoin were to trade at levels such as $100 or $1,000, it would still represent “a lot of value for basically nothing,” given his view that the asset has no intrinsic worth.
Schiff emphasized that the real issue for investors is not whether Bitcoin technically reaches zero, but whether it collapses enough to wipe out the vast majority of invested capital.
“If you invest a million dollars in Bitcoin, and it’s worth a hundred bucks. I mean, does it really matter if it goes to zero? It’s only a hundred-dollar difference, right? So there’s a tremendous potential for Bitcoin to fall.”
While he conceded that Bitcoin is unlikely to hit zero within the next five to 10 years, Schiff maintained that its long-term trajectory remains bleak.
Over a century-long horizon, Peter suggested that “no one will even remember” Bitcoin and it will have no meaningful demand remaining.
At press time, Bitcoin was climbing back up, trading 4.4% higher in the past 24 hours at $70,915.99.
Related: Gold bull Peter Schiff asks for Bitcoin on his 62nd birthday
This story was originally published by TheStreet on Feb 8, 2026, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
