Peter Schiff says Bitcoin will not go to zero in debate

In a televised debate on Monday, June 15, longtime cryptocurrency critic Peter Schiff and prominent Bitcoin advocate Anthony Pompliano clashed over the digital asset's future, with Schiff declaring its speculative bubble has burst while conceding it will not disappear entirely. The exchange, moderated by Liz Claman on Fox Business, highlighted the enduring and fundamental divide over how to value the pioneering cryptocurrency.

Schiff, a gold proponent and CEO of Euro Pacific Capital, argued that Bitcoin's price decline from an all-time high of approximately $126,000 in October 2024 signals a fundamental lack of real demand. He characterized Bitcoin as "digital nothing" and a worthless asset, asserting its price is no higher than it was five years ago. Schiff contended that institutional investment, including through spot Bitcoin exchange-traded funds, primarily provides liquidity for early investors to exit their positions. He also criticized the involvement of politicians and the financial establishment, suggesting the industry uses political donations to prop up the asset.

In response, Anthony Pompliano, founder of Pomp Investments, defended Bitcoin's long-term track record....