Many influential figures have long proclaimed the demise of Bitcoin, with a tally of 471 public obituaries recorded by BitcoinDeaths, a dedicated data aggregator. This list includes contributions from a range of notable personalities such as Nobel laureates, central bank officials, prime ministers, and high-profile investors. Among them, Warren Buffett stands out, having made at least eight declarations regarding Bitcoin’s worthlessness.
Despite the current Bitcoin price hovering around $71,000—a significant drop of 44% from its peak of approximately $126,000 in October—skeptics are finding new vigor in their critiques. The ongoing existence of Bitcoin amid these proclamations hints at the potential for substantial financial miscalculations for those who hastily dismiss the asset.
Critics, including economist and investment advisor Peter Schiff, have voiced strong opinions against Bitcoin, with Schiff issuing 22 separate statements declaring it dead or worthless over the past decade. Notably, on December 10, 2017, when Bitcoin was priced near $17,000, he argued it had no value. Today, that coin’s price reflects a 334% increase since then. Buffett also famously derided Bitcoin as “probably rat poison squared” during a 2018 Berkshire Hathaway meeting, a comment made when Bitcoin was valued around $9,700. Had an investor purchased $500 worth at that time, their stake would now be worth over $3,750, a striking 653% gain.
The frequency of Bitcoin obituaries reveals a pattern: these claims tend to surge during price declines. For instance, 2017 saw 93 obituaries, followed by 74 in 2018, while 2025 and 2026 have already recorded 34 and 17 respectively, indicating that the current downturn is reigniting familiar doubts. In contrast, during more stable or upward-trending periods, obituary counts decrease significantly.
Critics often argue that Bitcoin lacks intrinsic value and cite its price fluctuations as evidence of inherent instability. However, these assertions overlook the increasing legitimacy and integration of Bitcoin into traditional finance. Notably, since the approval of spot Bitcoin exchange-traded funds (ETFs) in early 2024, the asset has seen net capital inflows exceeding $56 billion. Such substantial investment flows contradict the narrative that Bitcoin is on the brink of extinction.
Moreover, Bitcoin’s scarcity is a critical component of its value proposition. The cryptocurrency undergoes a halving every four years, reducing the rate at which new coins are produced. This mechanism creates incentive structures for buyers to act sooner rather than later, as diminished supply tends to drive prices up. Consequently, it doesn’t require overwhelming demand for Bitcoin’s price to appreciate over time.
Despite the ongoing misunderstandings surrounding its value, it is likely that Bitcoin will continue to receive death declarations. Historically, these claims often coincide with opportune buying moments for long-term investors, suggesting that skepticism about the cryptocurrency may create advantageous entry points for those looking to capitalize on its potential.
