478 and Counting: Bitcoin's 'Dead Cat' Bounces Yet Again
The Bitcoin obituary genre has been around for years, with multiple public figures and institutions declaring its demise. Since 2010, there have been 478 such declarations, with some making more than one call. Peter Schiff leads the list with 26 calls, followed by Warren Buffett's eight.
One of the most notable calls came from Tim Worstall in 2011 when he wrote 'So, That's the End of Bitcoin Then' after its price on Mt. Gox collapsed. Had $1,000 been invested at that time, it would be worth around $4.9 million today.
Other prominent figures who declared bitcoin dead include Jamie Dimon in 2017, who called it 'a fraud,' and Warren Buffett in 2018, who compared it to 'rat poison squared.' Donald Trump also weighed in, tweeting that he was not a fan of bitcoin due to its volatility.
The European Central Bank (ECB) made two calls, first in 2022 when it described the market as an 'artificially induced last gasp before the road to irrelevance,' and again in 2024 when it put fair value at zero. Had $1,000 been invested at these times, it would be worth around $5,000 or $1,700 today.
The platform Bitcoin Deaths has logged all of these declarations since 2010. Several prominent figures have changed their stance on bitcoin over the years, with Dimon and Trump being two examples.