The chief executive of the World Gold Council recently said he personally believes Bitcoin will eventually "go to zero," reviving a long-running debate over the cryptocurrency’s long-term value. According to ChainCatcher, the executive said plainly: "My personal view on Bitcoin is that it will go to zero." The comment drew a response from Binance co-founder Changpeng Zhao, better known as CZ, who said many people have made wrong calls on crypto over the years and that understanding the sector takes time. He also added that he cannot be "100% sure" he is right either, noting that "we are all human." The exchange reflects a familiar split in the market. Critics argue that Bitcoin lacks the cash-flow backing associated with traditional assets and remains too volatile in price. Supporters, by contrast, point to Bitcoin’s decentralization, scarcity and role as a digital store of value, arguing that it could eventually become part of the global financial system.
World Gold Council CEO recently said he personally believes Bitcoin will eventually "go to zero," according to ChainCatcher.
He said: "My personal view on Bitcoin is that it will go to zero."
Binance co-founder CZ responded in a post, saying many people have made wrong judgments about crypto in the past and that it takes time to understand the sector. He also wrote: "I also cannot be 100% sure that I am right. We are all human, after all."
The idea that Bitcoin could "go to zero" has been around for years. Critics mainly argue that it lacks the cash-flow support seen in traditional assets and that its price is too volatile. Supporters argue that Bitcoin has decentralization, scarcity and digital store-of-value characteristics, and that it could become part of the global financial system in the future.
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