What “far-fetched” scenarios could take the price of #Bitcoin❗️ to $0?
Despite some dedicated critics saying otherwise, Bitcoin is highly unlikely to hit $0 due to its strong global community, established infrastructure, and historical resilience.
Bitcoin has seen many ups and downs since its creator, Satoshi Nakamoto, published his white paper in 2009, and there are no shortage of doomsayers who predict its fall to $0 in every correction or bear market.
Legendary investor Warren Buffett and stockbroker Peter Schiff are certainly two of the most vocal critics of Bitcoin
BTC.
However, they may never get their wish, because it may not even be possible for Bitcoin to reach a value of $0.
According to Jonathan Isaac, while Bitcoin going to zero is theoretically possible, it is “extremely unlikely” without some kind of “catastrophic event.”
Isaac said that if everyone holding Bitcoin suddenly decides it's worthless and sells at the same time, its value could plummet.
“Given how huge, global and passionate the Bitcoin community is, that's pretty hard to imagine,” he added.
“Plus, people use Bitcoin for all sorts of things: as a way to store value, make payments, or as a hedge against traditional finance. As long as it's useful, it's valuable.”
According to Exploding Topics, there are 46 million unique Bitcoin wallet addresses.
