Early Bitcoin Core Developer Jeff Garzik Says 99% of Digital Assets Will Eventually Go to Zero

Jeff Garzik, an early Bitcoin core developer, said he expects 99% of digital assets to eventually become worthless, arguing that the minimal cost of creating new tokens has led to an almost unlimited supply across blockchain networks.

Speaking on the Bitcoin Treasuries podcast, Garzik said permissionless innovation allows ecosystems such as Solana to produce large numbers of new tokens every day. He argued that, under the principles of supply and demand, the resulting near-infinite supply makes it inevitable that most tokens will lose their value.

Garzik said the low barrier to creating digital assets is ultimately beneficial for the broader cryptocurrency industry because it enables unrestricted experimentation with new economic models. He described the process as a testing ground in which only higher-quality projects are likely to survive intense market competition, while weaker projects are eliminated.

Source: Bitcoin Treasuries Podcast