Peter Schiff Predicts Bitcoin Crash Over 99%

Changpeng Zhao, founder of Binance, responded to Peter Schiff's predictions about Bitcoin, which foresees a market capitalization crash of over 99% by June 2026. Schiff, a Bitcoin critic, admitted that it might survive, but he continues to predict huge losses. Zhao joked on X about Schiff's bearish forecasts, emphasizing that the critic has changed his mind in the past. Schiff has expressed skepticism about Bitcoin since 2011, comparing its rise to tulip mania in 2013 and calling it a speculative bubble in 2017. Despite his incorrect predictions, such as the one about $50,000 in 2021, he has maintained his view of a final crash. During a debate in 2026, Schiff conceded that Bitcoin will not go to zero, but he still anticipates a significant decline in market capitalization.

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