Binance founder Changpeng Zhao has mocked Peter Schiff’s Bitcoin predictions, joking that the longtime critic would eventually get it right—after reversing his position. The jab targeted a record of bearish forecasts stretching back to 2011, while Schiff’s June 2026 concession that Bitcoin might survive still came with a forecast of devastating losses.
Key takeaways
- CZ responded to Pete Rizzo’s compilation of Schiff’s bearish Bitcoin calls.
- Schiff acknowledged his failed $50,000 prediction in 2021.
- Schiff’s June 2026 comments still projected a market-cap decline exceeding 99%.
CZ takes aim at Peter Schiff’s Bitcoin predictions
Zhao ridiculed Schiff in a reply on X to Bitcoin historian Pete Rizzo, who had assembled examples of the gold advocate’s pessimistic forecasts over the years.
“He will be right one day… after he changes his mind. 
” Zhao wrote.
The remark focused on Schiff’s record of predicting Bitcoin’s failure. Schiff had repeatedly maintained that the cryptocurrency would become worthless, even after acknowledging that one of his price forecasts was wrong.
From the tulip comparison to Bitcoin’s price milestones
Schiff’s criticism of Bitcoin dates to at least 2011, when he dismissed it as a fad. In November 2013, with Bitcoin trading around $350, he compared its rise to Dutch tulip mania and predicted that the speculative surge would collapse.
Bitcoin suffered a sharp correction but subsequently recovered and reached record highs. In December 2017, as its price approached $20,000 for the first time, Schiff described it as the largest speculative bubble he had seen.
He again declared Bitcoin’s demise during the March 2020 market crash. In 2021, however, he acknowledged that his prediction that BTC would never reach $50,000 had been wrong after the price crossed that threshold.
That admission did not end his forecast of an eventual collapse. In February 2021, Schiff wrote: “While possible for there to be a temporary rise to $100K, it’s inevitable there will be a permanent fall to zero.”
Bitcoin exceeded $100,000 in December 2024. Schiff continued making bearish calls: in April 2025, he predicted that a financial crisis that year would bring Bitcoin’s end.
A survival concession, not a bullish turn
Peter Schiff’s Bitcoin predictions became less absolute about a fall to zero during a June 2026 debate with Anthony Pompliano, a Bitcoin bull. But Schiff continued to forecast a severe collapse in value.
When prompted to bet on Bitcoin’s survival, Schiff said: “It’s not going to go to zero. Maybe,”
He later explained that he still expected Bitcoin’s market capitalization to fall by more than 99%. In his view, continued trading at a positive value would not spare investors: most people would lose most of their investment in such a crash.
Article produced with the assistance of artificial intelligence and reviewed by the editorial team.