Could Bitcoin fall to Zero, where this Crypto skeptic argues it belongs?

Every day that passes, Bitcoin gets closer to its true intrinsic value, which is $0.

During October 2025, it reached its highest delusional price of $126,198.07 USD. Today, it sits at $68,038.19 USD: approximately a 46% drop in about six months. And this is just the beginning.

Bitcoin is nothing more than a sophisticated pyramid scheme designed to take money from naive people who have seen too many get-rich-quick schemes on social media. It’s also a fantastic tool for terrorists, drug dealers, and money launderers who need to move money around.

The price of Bitcoin has been maintained by the “Greater Fool Theory.” Someone buys it because they think there is a greater fool willing to buy it later. But guess what? The world is running out of fools. It’s a huge turn-off when Bitcoin investors haven’t seen any gains during the past two years.

Bitcoin drops 46% in Six Months

The Trading Platforms are Bleeding Out

With the price decline of Bitcoin, fewer people are eager to trade it. That’s a bummer for companies that depend on gullible traders for their profits. The most obvious victims of this decline in Bitcoin trading are Coinbase and Robinhood.

Coinbase operates much like an online stockbroker, except instead of stocks, users buy and sell crypto assets like Bitcoin and Ethereum.

It serves two main groups:

• Retail investors using its app or website
• Institutional clients such as hedge funds and asset managers

The company earns a large portion of its revenue by charging transaction fees every time someone buys or sells crypto.

This is the engine of the business, because people are trading less Crypto, the revenues are dropping quickly.

Robinhood’s crypto business lets users buy and sell assets like Bitcoin and Ethereum directly in the app.

Unlike stocks:

• Crypto trades are not routed via PFOF in the same way
• Robinhood earns money through a spread (markup on buy/sell prices) and transaction-based revenue

The key point: crypto is a revenue amplifier

Crypto has historically contributed a large and highly variable share of Robinhood’s revenue:

• In peak periods (like 2021), crypto generated 40%+ of transaction revenue
• In quieter markets, it can fall to single digits

This makes crypto:

• Not always the largest segment
• But often the most volatile and cyclical driver

Why crypto matters so much to Robinhood

Robinhood’s user base skews:

• younger
• more speculative
• more reactive to trends

Crypto trading fits that profile perfectly. When crypto heats up:

• trading frequency spikes
• new users join
• dormant users return

When crypto declines:

• engagement drops sharply
• revenue contracts

When the price stops going up, the “get rich quick” crowd disappears. This creates a liquidity crisis that makes it harder for remaining holders to exit their positions without further crashing the market.

Michael Saylor’s Strategy: A Leveraged Nightmare

The most precarious domino in this collapse is Michael Saylor and his company, MicroStrategy. Saylor has famously bet his entire balance sheet on Bitcoin, but he didn’t just use cash: he used massive amounts of leverage.

The Strategy Math is Failing:

• Average Cost: Strategy’s average purchase price is approximately $76,052.
• Current Value: With Bitcoin trading near $68,000, Saylor is officially “underwater.”
• The Collateral Problem: Strategy’s debt is secured by the Bitcoin itself. As the price drops, the value of his collateral shrinks.

If the Bitcoin price crash continues, Saylor will be forced to sell to meet debt obligations. Because his holdings are so massive, his forced selling would trigger a “death spiral,” flooding the market and tanking the price even further.

Strategy is now down 62% during the last 6 months. I be Michel Saylor is having some sleepless nights.

Five years of Underperformance

While “crypto bros” promised generational wealth, the data tells a different story. Over the last five years, Bitcoin has significantly underperformed the S&P 500.

1. Productivity vs. Speculation: Stocks represent companies that create value. Bitcoin creates nothing.
2. Criminal Utility: Bitcoin remains the preferred currency for tax evaders and cyber-criminals.

Why you must Get out Now

If you have any holdings in this asset class, the most rational move is to liquidate immediately. The history of financial manias shows that the final collapse happens much faster than the build-up.

Waiting for a “rebound” is a dangerous game when the largest holder in the world is facing a potential margin call. Decent people should stay away from an asset that benefits only the corrupt and leaves the average person in financial ruin.

Summary

The Bitcoin price crash is the natural conclusion of a speculative bubble that lacked fundamental utility. With Michael Saylor’s Strategy underwater and trading platforms in retreat, the floor is falling out.

Frequently Asked Questions (FAQ)

Why is the Bitcoin price crashing in 2026? The crash is driven by a lack of new buyers, high interest rates, and the looming threat of forced liquidations from major holders like MicroStrategy.

Is Michael Saylor’s company going bankrupt? While not currently in bankruptcy, the company is “underwater” on its holdings, meaning the Bitcoin is worth less than what they paid for it, creating immense pressure on their debt.