Peter Schiff Still Thinks Bitcoin Is Going to Crash to $0 Despite 20% Surge

Bitcoin has seen an extremely strong performance over the past two weeks, even factoring in the Saturday flash crash that took BTC down $1,500.

Despite this rally, Euro Pacific Capital chief executive Peter Schiff still thinks the cryptocurrency is still bearish. The prominent cryptocurrency critic commented on Twitter on August 2nd that BTC is still on track to “zero out.”

Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold BTC, DeFi Still in Vogue

Peter Schiff Still Thinks Bitcoin Can Go to $0

Bitcoin saw an explosive flash crash on Saturday that resulted in over $1 billion worth of liquidations.

Most cryptocurrency commentators were not shaken out, arguing that this is just the reality of owning BTC. But Peter Schiff, a libertarian-leaning investor, took this as an opportunity to bash the Bitcoin narrative, writing:

“#Bitcoin is not for conservative investors looking for a safe haven or a store of value either. It’s purely for speculators looking for action, who don’t mind the risk of trading a worthless digital asset that will eventually zero out. Don’t get caught long when the music stops.”

Schiff’s latest comment is in line with his prior messages about the leading cryptocurrency. He wrote in May that Bitcoin is a fraud” and is “nothing,” adding that the value of the asset in his eyes is $0.

The gold bug does own a small amount of Bitcoin, which Anthony Pompliano and others in the space donated to him.

Related Reading: Coinbase Takes DeFi Focus as it Looks to List 19 New Crypto Assets

Other Institutional Investors Beg to Differ

Although Schiff and…

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