The man who once said “Bitcoin will never hit 50K” has doubled down on the bearish prediction that Bitcoin (BTC) will eventually go to zero.
Though somewhat delayed, the price of Bitcoin hit a new all-time high of more than $50,000 this morning after rising 8% this week. Members of Crypto Twitter — including the gold bug’s own son — threw Schiff’s words back at him.
In the wake of his predictions proving to be false, Schiff upped the ante, saying a Bitcoin price of $100,000 “can’t be ruled out,” but a “permanent move down to zero is inevitable.” Schiff’s son Spencer, a Bitcoin proponent, was quick to poke some fun at his father’s seeming inability to admit that he might have been wrong about Bitcoin.
A well-known Bitcoin detractor, Schiff