CZ Criticizes Peter Schiff's Long Bearish Bitcoin Calls

Changpeng Zhao mocked Peter Schiff over his repeated bearish Bitcoin forecasts after BTC surpassed $100,000. Schiff has warned since 2011 that Bitcoin would fail, including comparisons to tulip mania, but the cryptocurrency later rose above $50,000 and $100,000. He continues to caution that Bitcoin could crash.

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Changpeng Zhao, Binance's founder, replied sarcastically on X to a compilation by Bitcoin historian Pete Rizzo. Schiff has challenged Bitcoin since 2011, calling it a fad. In late 2013, with BTC near $350, he compared its climb to Dutch tulip speculation on CNBC. He later labeled it the largest speculative bubble as it approached $20,000 in December 2017, and in March 2020 declared it finished.

In 2021, after BTC passed $50,000, Schiff admitted that specific call was wrong but still expected eventual worthlessness. He wrote in February 2021 that a temporary $100,000 was possible while a permanent zero was inevitable. BTC topped $100,000 in December 2024. In April 2025, he said the next financial crisis would kill Bitcoin. In June 2026, debating Anthony Pompliano, he said zero was unlikely "maybe," yet still foresaw a >99% market-cap decline.

Count first: Changpeng(1) Zhao2, Binance's3 founder4, replied5 sarcastically6 on7 X8 to9 a10 compilation11 by12 Bitcoin13 historian14 Pete15 Rizzo16. Schiff17 has18 challenged19 Bitcoin20 since21 2011,22 calling23 it24 a25 fad26. In27 late28 2013,29 with30 BTC31 near32 $350,33 he34 compared35 its36 climb37 to38 Dutch39 tulip40 speculation41 on42 CNBC43. He44 later45 labeled46 it47 the48 largest49 speculative50 bubble51 as52 it53 approached54 $20,00055 in56 December57 2017,58 and59 in60 March61 2020,62 declared63 it64 finished65. First 65.

Second: In1 2021,2 after3 BTC4 passed5 $50,000,6 Schiff7 admitted8 that9 specific10 call