Gold Bug Peter Schiff Said Bitcoin Would "Never Hit 50K." It Hit $108,000.

When CNBC host Joe Kernen predicted Bitcoin would reach $55,000 by May 2020, Peter Schiff took to Twitter to mock him with this absolute gem. Bitcoin proceeded to hit $50K in February 2021, then $60K, then $100K, and eventually touched $108,000 in December 2024. When confronted about being spectacularly wrong, Schiff doubled down: "While a temporary move up to $100K is possible, a permanent move down to zero is inevitable." Bitcoin is currently trading around $72,000, which is approximately 72,000 dollars more than Schiff's predicted destination of zero. His own son Spencer is a Bitcoin investor who regularly dunks on his father's predictions on Twitter. Family dinners must be fun.