Bitcoin prices are headed to near zero, according to Peter Schiff, CEO of Euro Pacific Capital. 

"I wouldn't encourage people to bet on it," he said. "I do believe that no matter how high bitcoin goes, it's ultimately going near zero."

On Tuesday, Eastman Kodak Company (KODK - Get Report) saw its stock price surge after it unveiled a cryptocurrency, KodakCoin, a development that reminds Schiff of the dot-com Internet bubble in the 1990s.

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