Despite Bitcoin (BTC) celebrating its 14th birthday in January, recording massive mainstream adoption, and a steady increase in value, the naysayers have continued to declare the flagship decentralized finance (DeFi) asset worthless, including as many as seven times in 2023 alone.
As it happens, notable critics, each with an army of followers behind them and websites with a significant number of visitors, have pronounced Bitcoin ‘dead’ 474 times so far, as per the information retrieved by Finbold from the cryptocurrency market information platform 99bitcoins on July 11.
Specifically, the website accepts submissions from the public of the so-called ‘Bitcoin obituaries,’ or pieces of content from prominent critics, news portals, and other media that unambiguously claim that Bitcoin is or will become worthless, without using any speculative phrases, like ‘maybe’ or ‘could.’
Bitcoin death certificates in 2023
Indeed, the most recent would-be coroner of the maiden cryptocurrency is Chamath Palihapitiya, the founder and CEO of venture capital firm Social Capital and a former senior executive at Facebook (NASDAQ: META), who pronounced Bitcoin dead in a podcast streamed on April 22, 2023, back when it was trading at $27,817.50.
Earlier, on March 16, 2023, the chief economist at the Institute of International Finance (IIF) and former forex currency strategist at Goldman Sachs (NYSE: GS), Robin Brooks, equaled Bitcoin to a bubble, arguing it was at the mercy of the Federal Reserve’s policies. The price of Bitcoin at the time stood at $24,746.
“So it turns out that Bitcoin is just another bubble asset that blows up when the Fed gets serious about hiking interest rates. Zero store of value function. Zero diversification benefit. Zero yield. Sayonara Bitcoin…”
In early March, Harvey Jones from a United Kingdom news outlet Daily Express described Bitcoin as “a joke wrapped in a fraud (…) and sold as a get-rich-quick investment opportunity,” whereas Cincinnati Enquirer’s Rober Park called it “the greatest Ponzi scheme of all time” in late January. Both times, Bitcoin was changing hands at a price above $23,000.
Other Bitcoin eulogy authors in 2023 include JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon, geopolitical strategist Peter Zeihan, TV personality Jim Cramer, and former attorney at the United States Securities and Exchange Commission (SEC) John Reed Stark, who stated that “crypto is one big hussle.”
Meanwhile, Bitcoin was at press time changing hands at the price of $30,412, which represents a 0.79% gain on the day, a loss of 2.05% across the previous week, and an increase of 18.01% on its monthly chart, as per the latest data retrieved by Finbold on July 11.
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