In 2023, the Bitcoin obituaries continued with six declarations of the cryptocurrency’s demise. Among the skeptics are Robin Brooks, Harvey Jones, Robert Park, Jamie Dimon, Peter Zeihan, and John Reed Stark. Each of these individuals has voiced their concerns and predictions for Bitcoin, ranging from calling it a Ponzi scheme to claiming it has zero value.
Robin Brooks’ Zero Value Argument
The latest Bitcoin obituary came from Robin Brooks, chief economist at the Institute of International Finance. He declared Bitcoin as having zero value, diversification benefits, and revenue from sales, claiming it is merely an asset bubble bursting due to the Fed’s interest rate hikes.
Harvey Jones and the Ponzi Scheme Accusation
Harvey Jones, personal finance editor at the Daily Express, accused Bitcoin of being a Ponzi scheme. He stated that cryptocurrencies are “the worst thing that could have happened to the investment world,” calling them a fraudulent get-rich-quick opportunity.
The Joke of Bitcoin Obituaries
Despite these declarations of Bitcoin’s demise, the list of obituaries on 99bitcoins.com serves as a tongue-in-cheek reminder of the skeptics’ flawed predictions. Since its first obituary in 2010, Bitcoin has grown in price and network effect, becoming the 11th most valuable asset worldwide by market capitalization.
US, EU: Best Virtual Payment Cards
The Future of Bitcoin Amid Economic Uncertainty
As the world faces economic uncertainty, with reports like Allianz’s warning of a potential US economic crash and the anticipated interest rate hike by the Federal Reserve, Bitcoin’s future remains uncertain. However, as economist Peter Schiff suggests, the devaluation of the US dollar could lead to a reevaluation of Bitcoin’s worth and potential as an alternative asset.
If you are able, we kindly ask for your support of Logll Tech News today. We appreciate it.
Sergio Richi
Editor, Logll Tech News
⭐️⭐️⭐️⭐️⭐️ Hardware Wallet for Bitcoin
Ledger Nano X Crypto Hardware Wallet (Blazing-Orange) - Bluetooth - The Best Way to securely Buy, Manage and Grow All Your Digital Assets
Trezor Model T - Advanced Crypto Hardware Wallet with LCD Touchscreen, Secure Bitcoin & Over 1450 Coins for Maximum Security
Best Offer Today
Conclusion: Bitcoin’s Resilience Despite Skeptics
Bitcoin has faced numerous declarations of its death, yet it continues to grow and gain traction in the global market. As skeptics continue to predict its demise, the resilience of this leading cryptocurrency remains a testament to its staying power and potential for future growth.
Join Our Newsletter
Subscribe to receive our latest updates in your inbox!
Frequently Asked Questions
FAQs:
How many times was Bitcoin declared dead?
In 2023, Bitcoin was declared dead 6 times.
Who are some notable Bitcoin skeptics?
Robin Brooks, Harvey Jones, and Jamie Dimon are among the notable skeptics.
What's the main accusation against Bitcoin?
Many skeptics accuse Bitcoin of being a Ponzi scheme.
Has Bitcoin survived past death predictions?
Yes, Bitcoin has consistently survived and grown despite skeptics' predictions.
Can Bitcoin thrive amid economic uncertainty?
Bitcoin's future is uncertain, but its resilience suggests potential for growth.
