# Peter Schiff Predicted Bitcoin's Fall to Zero

By [Milreto](https://paragraph.com/@milreto) · 2023-07-03

---

In a recent interview with Coingeek, Peter Schiff, the President of Euro Pacific Capital, expressed his belief that the rapid decline in the price of Bitcoin is inevitable. Schiff, who has been skeptical of Bitcoin's success as a form of currency, stated that he underestimated the potential of the Bitcoin bubble.

According to Schiff, many investors do not truly believe in Bitcoin's value but instead hope to sell it at a higher price to someone else. He stands by his decision not to invest in Bitcoin 12 years ago, despite acknowledging its high profitability as an asset.

Schiff's perspective on Bitcoin reflects his skepticism towards its viability as a widespread medium of exchange. While acknowledging the profitability potential, he remains unconvinced that Bitcoin has succeeded in fulfilling its purpose as a form of money.

It is important to note that opinions on Bitcoin and other cryptocurrencies vary among financial experts, and Schiff's perspective represents one viewpoint. The cryptocurrency market is known for its volatility and subject to various factors, including market sentiment, regulatory developments, and technological advancements.

As the cryptocurrency landscape continues to evolve, debates surrounding the long-term viability and success of Bitcoin are likely to persist. Investors and market participants will closely monitor price movements and evaluate the potential risks and opportunities associated with digital assets.

---

*Originally published on [Milreto](https://paragraph.com/@milreto/peter-schiff-predicted-bitcoin-s-fall-to-zero)*