Bitcoin News Today: Bitcoin Defies 431 Death Pronouncements Since 2010

Bitcoin has been declared dead 431 times since 2010, according to the latest data from the "Bitcoin Is Dead" database, a repository that tracks all public pronouncements of the cryptocurrency’s demise by critics [1]. Each time the asset faces challenges—be it market volatility, regulatory scrutiny, or technological limitations—prominent figures in the economic and financial worlds have issued dire predictions. Yet, Bitcoin continues to rise, defying these forecasts and proving its resilience time and again.

The first death notice was issued in October 2010, when Bitcoin was trading at around 11 cents. The Underground Economist suggested that Bitcoin's only lifeline was its novelty [1]. Since then, the list of critics has expanded to include well-known economists and investors, such as Nouriel Roubini, Warren Buffett, and Peter Schiff. Schiff, in particular, stands out with 18 death declarations for Bitcoin, more than any other critic [1]. His latest critique, made in February 2022, warned that Bitcoin would not be around a decade from now [1].

The phrase "Bitcoin is dead" has become a recurring joke within the crypto community, often used to mock the repeated, failed predictions of Bitcoin’s collapse. The concept is so pervasive that if someone had invested $100 every time Bitcoin was declared dead, their total holdings would amount to approximately $118.74 million today [1]. This hypothetical scenario underscores the persistent and inaccurate nature of many death pronouncements.

Bitcoin’s resilience is evident in its ability to recover from every downturn. Whether facing regulatory crackdowns or technological hiccups, the cryptocurrency has consistently rebounded, leaving its critics behind. Harvard professor Kenneth Rogoff, former IMF chief economist, recently acknowledged that his 2018 prediction—that Bitcoin was more likely to fall to $100 than reach $100,000—was far off the mark [1]. Similar corrections have been made by others who once dismissed Bitcoin as a passing trend or a scam.

Warren Buffett, another prominent critic, has labeled Bitcoin as a “gambling token” with no intrinsic value and even “rat poison squared.” However, his criticisms have diminished in recent years, with his most recent public dismissal in 2023 [1]. Meanwhile, Jamie Dimon has also tempered his rhetoric, despite his past scathing remarks, as JPMorgan has increasingly integrated Bitcoin and crypto-related services into its offerings [1].

Peter Schiff remains the most vocal critic, often calling Bitcoin the “biggest bubble in history” and predicting its eventual collapse. In a recent comment, he noted the irony that Bitcoin was born out of the 2008 financial crisis and would likely be undone by a similar crisis in 2025 [1]. Despite these forecasts, Bitcoin’s performance continues to outpace expectations, turning what were once fatal predictions into historical footnotes.

The continued failure of critics to accurately predict Bitcoin’s downfall highlights the cryptocurrency's enduring appeal and adaptability. As long as Bitcoin continues to demonstrate resilience and growth, the eulogies from its detractors are likely to keep coming—yet, so will Bitcoin [1].

Source:

[1] The latest data from Bitcoin Is Dead dropped this week: Bitcoin has ‘died’ no less than 431 times

https://cryptoslate.com/the-latest-data-from-bitcoin-is-dead-dropped-this-week-bitcoin-has-died-no-less-than-431-times/