Peter Schiff Polls Bitcoin Holders: How Far Must BTC Drop Before They Admit He Was ‘Right’

🗝️ Key Points

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• Economist Peter Schiff taunted Bitcoin (CRYPTO: BTC) supporters on Thursday after the leading cryptocurrency tumbled below $100,000.
• Schiff opened up a poll on X, asking investors how low Bitcoin must drop before they would admit he was “right” all along.

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.

Economist Peter Schiff taunted Bitcoin (CRYPTO: BTC) supporters on Thursday after the leading cryptocurrency tumbled below $100,000.

Schiff opened up a poll on X, asking investors how low Bitcoin must drop before they would admit he was “right” all along. The poll includes four options: $50,000, $25,000, $10,000, and 0.

As of this writing, about 57% of X users voted for 0, with a little over 19% choosing $50,000.

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Schiff’s poll challenges Bitcoiners to concede his view that the cryptocurrency is a speculative bubble destined for zero value.

However, users pushed back, with one Thomas Rossini stating that Schiff’s “window for being right has closed.”

In response, Schiff asked whether he’d still be wrong if Bitcoin investors “end up losing 90% of their money, and many get completely wiped out due to leverage and taxes.”

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Schiff’s poll comes after the apex cryptocurrency sank below $100,000 yet again, reversing gains made earlier in the week. BTC was down 21% from its October highs.

“Extreme Fear” sentiment dominated the market, while Bitcoin liquidations alone topped $273 million in the last 24 hours, according to Coinglass.

Analyst Scott Melker suggested that traders may have front-run Bitcoin’s four-year halving cycle, diluting its impact. However, he added that once that premature selling fades, Bitcoin could shift into a mature, liquidity-driven phase that extends through 2026.

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