Peter Schiff Concedes Bitcoin Won’t Go to Zero in Debate With Pompliano

TL;DR:

  • Peter Schiff admitted on a televised debate that Bitcoin will not go to zero, contradicting his track record of 22 death declarations for the cryptocurrency.
  • Anthony Pompliano, CEO of Professional Capital Management, used Schiff’s statement on Fox Business to present it as a public victory on X.
  • According to the latest CoinMarketCap data, Bitcoin is trading at $66,150, down 0.96% over the last 24 hours.

In a debate moderated by Fox Business, the eternal cryptocurrency critic Peter Schiff ended up conceding an unexpected point: Bitcoin is not going to be worth zero. These statements, drawn out by Anthony Pompliano, CEO of Professional Capital Management, immediately became public ammunition against Schiff himself.

The moment came when Pompliano challenged him to bet on whether BTC would still exist in a decade. “It’s an easy bet. If you think it’s going to disappear, let’s do it,” he said. Schiff responded that he could not accept it because, in his own words, Bitcoin “is not going to go to zero.” The phrase, said on national television, was enough.

Schiff and Bitcoin’s 22 Deaths

Pompliano did not let the moment pass. On X he wrote: “I got Peter Schiff to admit on national television that BTC is not going to zero. Next will be him revealing that he holds a bunch of BTC too.”

This particular episode carries greater weight considering Schiff’s long and negative track record. He has declared Bitcoin dead on 22 occasions and is one of the most consistent and media-savvy critics of the flagship cryptocurrency. His followers regard him as the undisputed leader of crypto obituaries. However, in March 2024, Schiff himself acknowledged in an interview that he wished he had bought BTC in 2010, given its track record of gains. Part of the community has accused him for years of secretly holding the cryptocurrency, an accusation he has denied by calling those who make it “drunk on the Kool-Aid.”

Peter Schiff Bitcoin BTC

Pompliano, for his part, maintains a stance of unrestricted defense of BTC. He has expressed on multiple occasions his frustration with those who predict the end of BTC in a cyclical manner and warns the public to distrust that type of projection.

According to the latest CoinMarketCap data, BTC is trading at $66,150, with a slight decline of 0.96% over the last 24 hours. Its volume fell 3%, but remains above $29.4 billion.

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