Poll: 59% of Bitcoiners Wouldn’t Concede Even if BTC Hits $0
An online poll of more than 16,000 found 59% would not concede Schiff’s bearish case even if Bitcoin fell to $0; Schiff warned BTC could retest $25,000–$27,000.
Economist and gold advocate Peter Schiff posted an online poll that drew more than 16,000 responses asking how low Bitcoin must fall before supporters would accept his bearish view. Fifty-nine percent of respondents selected “$0,” indicating they would not concede his case even in a total collapse. Other responses were: 18.7% at $20,000, 8.3% at $10,000 and 13.9% at $1,000.
After the poll closed, Schiff wrote: “The results are in. Almost 60% of bitcoiners believe that even if bitcoin crashes to $1,000, a more than 99% decline, wiping out almost all bitcoin investors, bankrupting $MSTR, and devastating the entire crypto industry, I’m still wrong. That’s not rational. That’s a cult.”
Schiff published technical commentary on June 6 in which he argued that Bitcoin’s uptrend from the December 2022 low had broken. He identified a head-and-shoulders pattern and said a likely outcome would be a retest of the longer-term uptrend that began in December 2018. He placed a potential bottom in the $25,000 to $27,000 range if that support holds.
The polling and technical notes highlighted exposure at Strategy Inc. (Nasdaq: MSTR), a company that reports holding 845,256 BTC. The company’s public dashboard lists a Bitcoin reserve valuation of $53.852 billion, $6.754 billion in debt and $1 billion in U.S. dollar reserves. Schiff estimated that a decline to the mid-$20,000s would create an unrealized paper loss for the company of about $43 billion.
Schiff also projected that if preferred dividends are paid at current levels and not altered, Strategy Inc.’s cash resources could be exhausted by December 2026.
The poll results and Schiff’s market commentary were published in early June 2026. The vote showed a majority of respondents rejected the specific condition Schiff posed for conceding his bearish thesis. The figures and technical view presented by Schiff point to potential financial effects for firms holding large Bitcoin positions if prices move to the levels he identified.
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