Economist Peter Schiff has backpedaled on his long-held stance that Bitcoin (BTC) is headed to zero in the coming years. Fresh off his interview with Binance founder Changpeng Zhao, the gold bug revealed that Bitcoin has garnered enough institutional interest to support prices for the near future.
Bitcoin Price Will Not Go To Zero, Says Schiff
US-based economist Peter Schiff has confirmed a change in stance over the future of Bitcoin, disclosing that the leading cryptocurrency is not headed for a total wipeout in the short term. Schiff shared his thoughts in a spontaneous selfie-style interview, noting several reasons for his new stance.
Right off the bat, the gold bug predicted that there would be strong “support” for Bitcoin in the coming years, underscored by the “big-enough cult” around the asset. Schiff forecasted the retail and institutional interest will prop the asset, preventing its cascade toward zero dollars.
However, Schiff noted that Bitcoin will continue its price descent, a decline that could send the top crypto to $100 per coin. Since October, Bitcoin has erased its gains from the start of the year, trading below the $90,000 mark after setting an all-time high of $126,000.
While Schiff’s near-term prediction indicates a change of stance, he warns that the asset may be worthless in 100 years. The economist branded an investment in Bitcoin as akin to gambling while urging investors to double down on gold and other precious metals, citing their strong performance in 2025.
Peter Schiff’s comments come on the heels of a highly anticipated public debate with Binance founder Changpeng Zhao (CZ). During the interview, Schiff poked holes in Bitcoin’s recent price performance while questioning its utility as a store of value.
Bitcoin Cracks $90,000 Amid Flashes Of Brilliance
After wallowing below the $90,000 psychological level, Bitcoin has staged a small recovery. According to CoinMarketCap data, the top cryptocurrency gained nearly 3% to reach an intraday high of $91,740, shaking off a long streak of bearishness.
Meanwhile, daily trading volume surged to $44 billion, a near-5% increase over the last day, underscoring a changing market sentiment. Amid the upbeat sentiment, Tom Lee tipped Bitcoin to set a new all-time high before the end of January 2026, lending support to several bullish end-of-year predictions.
Other cryptocurrencies latched on to Bitcoin’s resurgence with Ethereum (ETH) gaining nearly 4% to trade well above $3,100. XRP gained 5% while Solana (SOL) managed a 4% rally in 24 hours to settle at $2.09 and $135, respectively.
Source: https://zycrypto.com/peter-schiff-admits-bitcoin-wont-go-to-zero-in-the-near-future-softens-long-held-stance/
