[DigitalToday reporter Jinju Hong] Binance founder Changpeng Zhao (창펑 자오) mocked prominent bitcoin sceptic Peter Schiff’s long-term bearish outlook in public. Schiff, who has predicted bitcoin’s collapse for years, recently conceded it was unlikely bitcoin would fall to $0 but kept an extreme downside view, prompting Zhao’s jab.

On Oct. 19, blockchain outlet U.Today reported that Zhao responded on X, formerly Twitter, to a collection of Schiff’s past remarks shared by a bitcoin figure, Pete Rizzo. Zhao wrote, "He will be right one day. After he changes his mind."

Schiff has consistently predicted declines, calling bitcoin a fad asset since 2011. In November 2013, when bitcoin traded around $350, he compared it to the Dutch tulip mania and argued the surge would eventually collapse. Bitcoin later underwent major corrections but recovered and went on to set new highs.

In December 2017, when bitcoin first neared $20,000, Schiff described it as the biggest speculative bubble he had ever seen. During the market plunge in March 2020, he spoke of bitcoin’s end. In 2021, he acknowledged his earlier forecast that bitcoin would not reach $50,000 was wrong, but he stuck to his claim that it would ultimately be worth $0.

At the time, Schiff said bitcoin could rise temporarily to $100,000 but would eventually fall permanently to $0. Bitcoin, however, moved in the opposite direction to his pessimistic forecast by surpassing $100,000 in December 2024.

Schiff’s bearishness continued. In April 2025, he argued the next financial crisis could bring about bitcoin’s end. His reasoning was that while bitcoin emerged as a result of the 2008 financial crisis, it could instead collapse in the next one.

More recently, his comments on bitcoin’s prospects for survival have shifted. In a debate with Anthony Pompliano in June 2026, Schiff replied in a way that suggested it was not very likely bitcoin would actually fall to $0. Asked whether bitcoin would not go to $0, he added, "Probably."

That did not mean Schiff withdrew his pessimism on bitcoin. He said that even if bitcoin keeps a positive price, its market capitalisation could fall by more than 99 percent, and most investors could lose a large portion of their investment in the process.

The exchange again highlighted the gap between optimism and scepticism over bitcoin’s long-term value. Zhao satirised Schiff’s long-running bearish calls, while Schiff continues to warn of a price crash even as he partly acknowledged bitcoin’s chances of survival.

He will be right one day... after he changes his mind.