Who doesn’t enjoy a well-crafted obituary? It can serve as a poignant conclusion to a life well lived. However, even the finest eulogies lose some of their impact if the individual in question is still alive. Recent statistics from Bitcoin Is Dead, the internet’s most extensive repository compiling Bitcoin death declarations, reveal that the leading digital currency has been pronounced ‘dead’ an astonishing 431 times.
If you had invested $100 every time, you would now have an incredible $118,739,991.
Peter Schiff leads Bitcoin critic charts
Bitcoin was first declared dead at around 11 cents in October 2010 by the Underground Economist, who noted that the only reason Bitcoin had survived up to that point was its “novelty.”
Since that time, the roster of Bitcoin critics has expanded to feature eminent economists like Nouriel Roubini and legendary investors such as Warren Buffett. Notably, Peter Schiff leads the Bitcoin criticism rankings, having declared the asset dead an astounding 18 times.
In his latest harsh critique, Schiff compared the 2008 financial crisis that spawned Bitcoin to the economic scenario of 2025, asserting:
“Bitcoin was born out of the financial crisis of 2008. Ironically, the financial crisis of 2025 will kill it.”
Bitcoin is dead (again)
Bitcoin Is Dead meticulously records each occasion that critics have pronounced Bitcoin “dead” since 2010, totaling a lengthy 431 times.
In fact, the phrase “Bitcoin is dead” has morphed into a meme within the Bitcoin community, reflecting the flood of premature obituaries every time the asset encounters challenges.
Every new wave of skepticism, whether triggered by market downturns, regulatory actions, or technological hurdles, has aged poorly, as Bitcoin rises like a phoenix from the ashes, continually leaving its critics behind.
Take former IMF chief economist Kenneth Rogoff, for instance, who recently acknowledged that his 2018 prediction—suggesting Bitcoin was “more likely” to plunge to $100 than soar to $100,000—was way off.
Bitcoin’s endurance has become legendary, brushing off severe criticisms with ease, covering concerns from volatility and energy use to criminality and its perceived lack of value, often branded as a ‘Ponzi scheme.’
The rankings of Bitcoin critics
Leading the charge against Bitcoin is Schiff, who has pronounced its demise multiple times, branding it variously as the “biggest bubble in history” and a mere passing trend. He stated in February 2022:
“Bitcoin won’t be around a decade from now,”
Warren Buffett ranks second, having referred to Bitcoin as a “gambling token” devoid of “intrinsic value” and even “rat poison squared.” However, he has notably tempered his attacks in recent years, with his latest critique of Bitcoin’s downfall coming in 2023.
Jamie Dimon is close behind, frequently lambasting Bitcoin as a criminal tool and a worthless Ponzi scheme. However, his denunciations have also cooled as JPMorgan has expanded its offerings related to Bitcoin and cryptocurrencies.
While it is doubtful he will turn into a Bitcoin supporter anytime soon, the ongoing eulogies are unlikely to stop Bitcoin’s momentum.
