The cryptocurrency market is paying close attention as Peter Schiff, a gold investment advocate and widely regarded as one of the most prominent Bitcoin critics, stated that the price of Bitcoin (BTC) will essentially not drop to zero dollars.

In an interview with Fox Business released on the 17th (local time), Schiff made these remarks during a debate with investor Anthony Pompliano. He offered comments that partially acknowledged Bitcoin's long-term viability.

"Bitcoin Won't Be Zero"… Market Interprets It as Symbolic

Schiff has long defined Bitcoin as an asset with no intrinsic value, maintaining fierce criticism. Against this backdrop, some in the market view his recent remarks as more than a mere expression of opinion, reading them as a signal that reflects the integration of the cryptocurrency market into the mainstream and its expanding influence.

Bitcoin supporters evaluated Schiff's comments as having symbolic significance, noting that one of the staunchest opponents has shown a softened stance compared to the past regarding the possibility of Bitcoin's complete demise.

Still Negative on Investment Appeal… "Doubtful as a Long-Term Investment Vehicle"

However, while acknowledging Bitcoin's viability to exist on its own, Schiff maintained a negative view regarding its investment appeal. He disagreed with the optimism surrounding Bitcoin's price and questioned its value as a long-term investment vehicle.

As Bitcoin expands its influence in the global financial market, the debate between supporters and critics is expected to continue.

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