Peter Schiff ran a poll this week that didn't go the way he probably hoped. Most respondents said that even if Bitcoin collapsed to zero, it still wouldn't prove his long-running bearish case correct. Some pointed to price thresholds between $20,000 and $1,000 as levels that might change their view — but zero wasn't one of them.
The poll that backfired
Schiff, a longtime Bitcoin skeptic and gold advocate, asked his followers whether a Bitcoin crash to $0 would finally validate his stance. The answer, from the majority, was no. They argued that Schiff's bearish thesis has been wrong for so long that even a total wipeout wouldn't retroactively make him right. A few respondents said they'd reconsider if Bitcoin hit somewhere between $20,000 and $1,000, but the overall sentiment was clear: Schiff's credibility on crypto isn't getting a boost from this poll.
Schiff's price warning
Undeterred by the poll results, Schiff warned that technical weakness could drive Bitcoin toward $25,000 to $27,000. He didn't specify a timeline, but the warning fits his broader narrative that Bitcoin is in a long-term downtrend. The price range he cited is well below current levels, though the market hasn't shown signs of panic yet.
Strategy Inc. in the crosshairs
Schiff also turned his attention to Strategy Inc., the company formerly known as MicroStrategy that holds a massive Bitcoin treasury. He raised scrutiny over the firm's exposure, questioning what happens to its balance sheet if Bitcoin drops sharply. Strategy Inc. has been one of the most aggressive corporate buyers of Bitcoin, and Schiff's comments add to the ongoing debate about the risks of leveraged or concentrated crypto holdings.
It's unclear whether Schiff's warnings will gain traction. His own poll suggests the crypto community remains deeply unconvinced — even a trip to zero wouldn't change their minds.
