"While a temporary move up to $100K is possible, a permanent move down to zero is inevitable," Schiff said on Twitter.
The man who once said "Bitcoin will never hit 50K" has doubled down on the bearish prediction that Bitcoin (BTC) will eventually go to zero.
Back in 2019, CNBC host Joe Kernen speculated that Bitcoin's price would reach $55,000 by May 2020. Peter Schiff mocked him at the time, saying "Bitcoin will never hit 50k."
Though somewhat delayed, the price of Bitcoin hit a new all-time high of more than $50,000 this morning after rising 8% this week.