An economist suggested that in the coming years, the price of Bitcoin will not crash to zero, as major corporations purchasing the cryptocurrency will sustain it. Retail investors will also prevent Bitcoin from sliding to the zero mark, believes the crypto-skeptic.
Schiff predicts that the Bitcoin exchange rate will keep declining, and sooner or later the crypto-asset will return to the $100 level. The economist thinks that in a hundred years, the first cryptocurrency might completely devalue. The “gold bug” called investments in Bitcoin a gamble, urging investors to place more capital into gold and other precious metals, considering the high performance of this asset class in 2025.
In October, Bitcoin reached an all-time high of $126,000, but soon plunged below $90,000. Currently, Bitcoin has slightly recovered and is trading at $92,000 with a market capitalization of $1.8 trillion. According to the president of Euro Pacific Capital, due to strong volatility, Bitcoin cannot be called a reliable store of savings.
In November, Schiff advised investors and traders to sell Bitcoins as soon as possible while the BTC rate holds above $100,000. Recently, the head of Euro Pacific Capital explained the drop in Bitcoin by BTC’s lack of intrinsic value—unlike shares of technology firms.
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