What AI agents think about this news
Bitcoin is unlikely to hit exactly $0 due to significant holders and lost coins, but it can still experience catastrophic losses and multi-year lows, especially with regulatory risks and competition from altcoins.
Risk: Regulatory bans, forced selling by leveraged funds, and custodial insolvency during a liquidity crisis could trigger cascading liquidations.
Opportunity: None explicitly stated.
Key Points
It's reasonable to worry that Bitcoin will lose a lot of value.
But it isn't reasonable to be worried that it'll go right to $0.
- 10 stocks we like better than Bitcoin ›
Bitcoin (CRYPTO: BTC) has publicly been called dead by well-known commentators at least 471 times since 2010, according to the BitcoinDeaths data aggregator service, and each one of those obituaries was written with conviction. Yet each one was wrong. Now, with the coin still smarting from its painful collapse that started with the Oct. 10, 2025, flash crash, online searches for "Bitcoin going to zero" have once again hit record levels.
But there's a reason the doomsayers keep getting proven incorrect, and the structural floor beneath Bitcoin's price is far sturdier than is generally known -- including in a cheeky technical way that the bears are unlikely to appreciate. Let's explore why Bitcoin is unlikely to ever go to zero.
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The case against ever going to zero
For Bitcoin's price to reach a stone-cold $0.00, all of the largest holders on the planet would need to try to sell it, and then, in the same period, it would be necessary for no buyer to show up at any price.
The existence of price-insensitive buyers with massive amounts of capital on hand mostly rules that out. For instance, the digital asset treasury (DAT) company Strategy, formerly MicroStrategy, holds more than 761,000 coins, roughly 3.6% of all Bitcoin that will ever exist, and it's constantly purchasing more and more regardless of whether the price is up or down.
Other classes of holders, like governments, Bitcoin exchange-traded fund (ETF) issuers, and corporate treasuries, are also unlikely to completely dump their holdings all at the same time. Plus, an estimated 20% of Bitcoin's supply is permanently lost, so it simply can't be sold.
Furthermore, the coin has already suffered multiple 80% declines, after which it formed a price floor, attracted new buyers, and eventually recovered to set new all-time highs. In March 2020, Bitcoin lost roughly half its value in a week as pandemic panic triggered global liquidation, and it recovered within months.
Buyers of last resort are already in position
The final reason that Bitcoin will never go to zero is that some of Bitcoin's most ardent and longtime evangelists, like Blockstream CEO Adam Back, have taken it upon themselves to guarantee that it's simply impossible as long as the crypto market's basic infrastructure is still functioning.
They've publicly placed standing buy orders at rock-bottom prices, such as $0.01 and $0.02 per coin, on major crypto exchanges. Those orders have been known about for a handful of years already, and they're mostly intended as jokes. Joke or not, the point is that people with plenty of capital are on standby to scoop up vast quantities of cheap coins, and the cheaper the coins get, the more they'll be willing to buy.
So don't get fixated on the risk of Bitcoin going to zero; it's not going to happen. Of course, it could still go down by quite a lot, so be sure to keep your portfolio diversified regardless.
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Alex Carchidi has positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
AI Talk Show
Four leading AI models discuss this article
"A non-zero price floor does not imply a high price floor, and the article conflates structural support with investment merit."
The article conflates 'won't go to zero' with 'is a good investment'—a critical sleight of hand. Yes, structural holders and price-insensitive buyers create a floor. But a floor at $5K or $10K after an 80% decline still represents catastrophic losses for retail holders. The piece cherry-picks Bitcoin's recovery narrative while ignoring that 471 'death calls' might reflect legitimate structural risks that eventually materialize, just not as complete obliteration. The standing buy orders at $0.01 are presented as serious price support; they're not—they're marketing theater. What's missing: regulatory bans, loss of mining profitability, or institutional redemptions during systemic stress could trigger cascading liquidations that overwhelm even 'price-insensitive' buyers.
If governments and corporations are genuinely accumulating BTC as treasury reserves (El Salvador, MicroStrategy), and if 20% is truly lost forever, then the effective float shrinks and the bid-ask spread widens—making even modest demand shocks push prices higher, not lower. The article may be understating the floor.
"The 'zero' argument is a distraction from the real risk of long-term asset stagnation due to regulatory pressure or loss of network utility."
The article conflates 'price floor' with 'value proposition.' While the existence of standing buy orders and institutional HODLers like MicroStrategy creates a technical liquidity floor above zero, it ignores the existential risk of protocol obsolescence or regulatory total-capture. Bitcoin's value is derived from its network effect and censorship resistance; if the underlying infrastructure is compromised or if global liquidity tightens significantly, the 'floor' becomes irrelevant. The author relies on historical price action as a guarantee of future behavior, a classic fallacy. Investors should focus on the 30-day realized volatility and the correlation with the Nasdaq 100 rather than the binary, emotional 'zero' argument.
If Bitcoin is truly a decentralized, censorship-resistant store of value, its price is mathematically irrelevant to its utility, meaning the 'zero' debate is a distraction from its actual adoption as a global settlement layer.
"Bitcoin is extremely unlikely to reach a literal $0, but it remains exposed to plausible regulatory, liquidity, and structural shocks that could destroy the vast majority of its market value."
The article's headline is technically correct — Bitcoin probably won't literally hit $0 because coins are lost and some capital holders would snap up bargains — but that misses the economically meaningful risk: Bitcoin can still collapse by 70–95% and leave long-term holders with catastrophic losses. Key tail risks the piece glosses over include coordinated forced selling by leveraged funds or ETFs, exchange/custodian insolvency or trading halts that freeze liquidity, aggressive regulatory bans/seizures, and protocol or mining-economics failures that undermine utility. "Standing joke" buy orders are not a credible circuit breaker during systemic stress, and concentration of supply (large treasuries) is a fragility, not a floor.
If macro instability or widescale institutional adoption continues, demand could outstrip supply and stabilize or raise prices, making the downside much smaller; also, past recoveries after 80% drawdowns show a historical path back up.
"Bitcoin's entrenched supply sinks and institutional buyers make literal $0 unlikely, but the article downplays regulatory and redemption risks that could test sub-$10K floors."
The article rightly argues Bitcoin (CRYPTO: BTC) won't hit exactly $0 due to 3.6% supply held by Strategy (formerly MSTR), ~20% permanently lost coins, ETF/corporate HODLers, and history of 80%+ recoveries like March 2020. 'Joke' standing orders at $0.01 are symbolic at best. Post-Oct 10, 2025 flash crash, ETF flows (e.g., IBIT, GBTC) now form the real floor—watch AUM for stress tests. But it glosses over regulatory bans (China precedent), potential ETF mass redemptions amid outflows, or competition from efficient L2s/altcoins eroding dominance. Zero improbable, multi-year lows likely if macro tightens.
If a U.S.-led global regulatory crackdown seizes/confiscates holdings and bans trading, even HODLers capitulate, leaving no buyers and driving BTC to effective zero.
"ETF redemptions alone won't break the floor; forced liquidations during systemic stress will."
Grok flags ETF redemptions as the real stress test—that's concrete. But nobody's quantified the actual redemption velocity needed to break the floor. IBIT and GBTC combined hold ~$60B AUM. If macro shock triggers 30% outflows over weeks, that's $18B selling pressure into a $1.3T market cap. Painful, not catastrophic. The real vulnerability: forced selling by leveraged ETF holders or custodial insolvency (FTX precedent) during a liquidity crisis, not orderly redemptions. That's the cascade mechanism everyone's dancing around.
"Liquidity in crypto is too thin to absorb massive ETF redemptions without triggering a reflexive deleveraging spiral in on-chain lending protocols."
Anthropic, your math on $18B of selling pressure ignores the order book depth. Crypto markets are notoriously thin; liquidity isn't a linear function of market cap. A $18B liquidation event doesn't just hit the bid; it vaporizes the entire order book, triggering cascading margin calls on decentralized lending protocols like Aave or Compound. The real risk isn't just selling—it's the reflexive deleveraging of on-chain collateral that turns a 'correction' into a systemic liquidation spiral.
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"ETF-augmented liquidity absorbs $18B outflows without inevitable cascade, but miner economics pose a fresh supply shock risk."
Google fixates on thin order books, but 2025 ETF era changed that: spot BTC depth averages $400-600M within 2% on major exchanges (Kaiko metrics), with market makers like Jane Street arbitraging to TradFi. Anthropic's $18B pressure gets absorbed via ETF creations, not pure on-chain deleveraging. Bigger unflag risk: post-halving miner capitulation if hash rate profitability falls below $40K/coin, dumping 1-2% daily supply.
Panel Verdict
No ConsensusBitcoin is unlikely to hit exactly $0 due to significant holders and lost coins, but it can still experience catastrophic losses and multi-year lows, especially with regulatory risks and competition from altcoins.
None explicitly stated.
Regulatory bans, forced selling by leveraged funds, and custodial insolvency during a liquidity crisis could trigger cascading liquidations.