The Scorecard

Peter Schiff's Never-Ending Bitcoin Obituary

Posted December 13, 2024

"Bitcoin is going to zero. It has no intrinsic value. Gold is the only real store of value."

— Peter Schiff, Gold Bug & Euro Pacific Capital CEO

2019-11-22

What Actually Happened

Peter Schiff has been predicting Bitcoin's demise since it was trading in the hundreds. He's called it going to zero at $1,000, $5,000, $10,000, $20,000, $30,000, $40,000, $50,000, and $60,000. Each time, he doubled down.

Meanwhile, from his first "going to zero" call around $400 in 2014, Bitcoin has increased by over 25,000%. His preferred asset, gold, has roughly doubled in the same period — a solid return, but nowhere close to Bitcoin's performance.

Schiff's son, Spencer Schiff, has become a vocal Bitcoin advocate, reportedly converting his entire portfolio to Bitcoin. The family Thanksgiving dinners must be fascinating.

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