Prominent economist Steve Keen, known for forecasting the 2008 financial crisis, has issued a stark new warning predicting Bitcoin's total collapse to zero. His theory, gaining renewed traction in mainstream financial circles, directly challenges the foundational value proposition of the world's largest cryptocurrency. Market analysts are pushing back, citing Bitcoin's entrenched institutional adoption, finite supply mechanics, and role as a digital store of value as key reasons the asset will defy this bearish forecast.

Economist Warns Of An Impending Bitcoin Collapse

Famous economist Steve Keen, renowned for predicting 2008 financial collapse, is once again garnering central attention. This time, Keen has predicted a rather bold analysis in Bitcoin, stating how BTC is poised to collapse and hit zero soon. Adding more to this, Keen shared how Bitcoin’s extensive energy requirements may spell trouble for the asset in the long haul, bringing it closer to its collapse. The heavy energy usage coupled with rising geopolitical tensions that have lately been impacting the energy arena may make it difficult for Bitcoin to thrive, compelling the asset to drop to zero soon.

That means it’s got a huge requirement for energy use. And I believe, knowing what I know from climate scientists, that at some point we’re going to realize we’re using far too much energy on the planet. We’ve got to cut the energy consumption.”

Analyst Counters Keen’s Prediction

While Keen shared his own theory about the impending Bitcoin collapse, Crypto Patel, a famous crypto expert, has come forward to counter this theory. In his latest tweet on X, Patel shared how Keen has been predicting Bitcoin’s doom, even at the time when BTC was at $4000. Patel later shared how BTC energy management has now adopted sustainable standards, countering Keen’s argument on BTC being highly energy-intensive.

Economist Steve Keen Says Bitcoin Will Go To Zero: Here's Why He's Probably Wrong Again

The Economist who called the 2008 crash just told Diary Of A CEO that #Bitcoin will hit zero because of energy use and the Iran conflict.

Keen has been calling zero since 2018, when $BTC was… pic.twitter.com/ztDSpUu2bB