Despite Bitcoin (BTC) celebrating its 14th birthday in January, seeing massive mainstream adoption and steadily increasing in value, naysayers continued to declare the flagship decentralized finance (DeFi) asset worthless, including up to seven times in 2023 alone.
In fact, notable critics, each with an army of followers behind them and websites with a significant number of visitors, have declared Bitcoin “dead” 474 times so far, according to information retrieved by Finbold from cryptocurrency market information platform 99bitcoins 11. July.
Year-to-Date (YTD) Bitcoin Obituaries vs Price Chart. Source: 99bitcoins
Specifically, the site accepts submissions from the public on so-called “Bitcoin obituaries,” or content from prominent critics, news portals, and other media outlets that unequivocally claim that Bitcoin is or will become worthless, without using speculative language. like “maybe” or “could”.
Bitcoin death certificates in 2023
In fact, the youngest potential coroner of the first cryptocurrency is Chamath Palihapitiya, the founder and CEO of venture capital firm Social Capital and a former executive at Facebook (NASDAQ:META), who declared bitcoin dead in a podcast streamed in April The trading price was February 22 2023 at $27,817.50.
Earlier, on March 16, 2023, Institute of International Finance (IIF) chief economist and former forex currency strategist at Goldman Sachs (NYSE: GS), Robin Brooks equated Bitcoin with a bubble, arguing it was at Bitcoin’s mercy delivered the policy of the Federal Reserve. Bitcoin was priced at $24,746 at the time.
“So it turns out that bitcoin is just another asset bubble that will explode if the Fed is serious about raising rates.” No diversification benefit. zero yield. Sayonara Bitcoin…”
Earlier in March, Harvey Jones of UK news outlet Daily Express described Bitcoin as “a joke wrapped in a scam (…) sold as a get-rich-quick investment opportunity,” while Rober Park of the Cincinnati Enquirer called it “the biggest.” Ponzi scheme of all time” in late January. Both times, Bitcoin changed hands at a price above $23,000.
Other contributors to the 2023 Bitcoin eulogy include JPMorgan Chase (NYSE: JPM) CEO Jamie Dimon, geopolitical strategist Peter Zeihan, TV personality Jim Cramer and former Securities and Exchange attorney Commission (SEC), John Reed Stark, who stated: “Crypto is a big problem.”
Meanwhile, at press time, Bitcoin was changing hands at a price of $30,412, up 0.79% on the day, down 2.05% on the previous week and up 18.01% on the monthly chart, as of the latest edition shows data retrieved by Finbold on July 11th.
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