Despite the success and mainstream popularity that the cryptocurrency sector and the flagship decentralized finance (DeFi) asset have achieved so far, notable critics have continued to declare Bitcoin (BTC) worthless, including four times in 2023.
Indeed, these critics, which include individuals with a significant following or sites with substantial traffic, have declared Bitcoin ‘dead’ 471 times so far, according to the data retrieved by Finbold from cryptocurrency information platform 99bitcoins on February 1.
According to the website, this platform accepts submissions of so-called ‘Bitcoin obituaries,’ which are pieces of content from prominent critics that explicitly state that Bitcoin is or will be worthless, excluding statements that involve ‘maybe’ and ‘could.’
Eulogies stack despite progress
Over the past month alone, Bitcoin has been pronounced dead four times by the naysayers, despite growing 40%. The latest such statement comes from an article by Cincinnati Enquirer’s Robert Park, who declared crypto ‘the greatest Ponzi of all time’ on January 29, as the price of BTC stood at $23,775.
As he wrote:
“Crypto is a Ponzi scheme. It’s the IT version of what Bernie Madoff did in a mutual fund fraud in New York City in the 1980s and ‘90s, which was the greatest Ponzi scheme of all time − until now.”
Other eulogies include ‘Bitcoin is a hyped-up fraud’ by JPMorgan…
