Bitcoin is the first digital currency designed to eliminate the demand for central financial authorities such as banks or governments. It has been traveling wildly since its original creation in 2009, and has been known since then as many things: the future of money, scams and bubbles awaiting popularity. Even though Bitcoin survived multiple collapses, skeptics have been praying for the downfall for nearly two decades, Bitcoin is still standing.
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But can it end up zero?
This is what has to happen to Bitcoin’s value completely disappear and what it currently holds.
To keep Bitcoin’s value down to zero ($80,000 as of March 11), it will need to lose its basic value driver. Here are some situations that may make it forget.
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In countries that prohibit mining and trading, Bitcoin faces a lot of regulatory crackdowns in countries such as China. For example, in 2021, Bitcoin’s price fell nearly 30% after the Chinese government’s use of cryptocurrency for banks.
So if for some reason major economies such as the United States or the European Union impose bans on Bitcoin to make use, trade or hold illegal, then demand will drop.
Bitcoin mining consumes a lot of electricity. According to Crypto.com, a Bitcoin transaction consumes an average of 851.77 kWh of energy, which is equivalent to about a month of electricity from an average American household.
Bitcoin’s cybersecurity could weaken if energy costs soar or the government imposes serious restrictions on mining due to environmental concerns. Then, a decline in mining capacity could make the network more vulnerable, which would scare investors.
If people stop believing in Bitcoin, whether it is due to major scandals or market manipulation, it may start to lose value. Because unlike stocks, Bitcoin itself does not generate cash flow and does not have an intrinsic value beyond what people think of it’s worth. This means that if investor confidence disappears, so will its value disappear.
Despite the risks, as of March 2025, the total value of Bitcoin is still more than $1.6 trillion. That’s why people continue to believe it.
