Everyone appreciates a well-crafted obituary, a dignified conclusion to a life of meaning. However, even the most eloquent tributes lose some impact when the subject is still very much alive. According to data compiled by Bitcoin Is Dead, a resource for tracking declarations of Bitcoin’s demise, the leading cryptocurrency has been declared “dead” an astounding 431 times.
Had you invested $100 each time Bitcoin was declared dead, your portfolio would now total a staggering $118,739,991.
Peter Schiff: Bitcoin’s Top Detractor
The initial declaration of Bitcoin’s death occurred back in October 2010, when it was valued at roughly 11 cents. The Underground Economist suggested that the cryptocurrency’s existence was primarily due to its “novelty.”
The roster of Bitcoin critics has since expanded to include prominent economists like Nouriel Roubini, esteemed value investors such as Warren Buffett, and vocal gold advocate Peter Schiff. Schiff actually holds the top spot among Bitcoin naysayers, having predicted the asset’s downfall an impressive 18 times.
Schiff’s most recent criticism draws a parallel between the 2008 financial crisis, which led to Bitcoin’s creation, and the perceived economic environment of 2025, stating:
“Bitcoin emerged from the 2008 financial crisis. Ironically, the financial crisis of 2025 will be its undoing.”
Bitcoin Is Dead (Again!): Tracking the Demise
Bitcoin Is Dead meticulously records each instance since 2010 when Bitcoin has been proclaimed “dead” by its detractors. The compilation currently contains 431 instances.
Within the Bitcoin community, the phrase “Bitcoin is dead” has essentially become a meme, referencing the numerous premature obituaries that surface whenever the asset faces market challenges.
Each wave of skepticism, whether prompted by market downturns, regulatory enforcement, or technical issues, quickly becomes outdated. Bitcoin has repeatedly rebounded, leaving its critics behind.
Consider the example of Harvard professor Kenneth Rogoff, formerly a chief economist at the International Monetary Fund (IMF). He recently acknowledged that his 2018 prediction of Bitcoin falling to $100, rather than reaching $100,000, proved wildly inaccurate.
Bitcoin’s resilience has become legendary. It has shrugged off negative pronouncements, from concerns over volatility, energy consumption, and illicit use, to questions about its intrinsic value and its perceived “Ponzi scheme” characteristics.
Ranking Bitcoin’s Prominent Critics
Peter Schiff stands out as Bitcoin’s most persistent critic, having repeatedly predicted its demise and describing it as both the “biggest bubble in history” and a fleeting fad. In February 2022, he asserted:
“Bitcoin won’t exist in ten years.”
Following Schiff is Warren Buffett, who, despite labeling Bitcoin a “gambling token” with “no inherent worth” and even “rat poison squared,” has been notably more reserved in his criticism recently. His most recent public dismissal occurred in 2023.
Jamie Dimon narrowly misses the top three, despite his numerous highly publicized critiques, which ranged from calling it a tool for criminals to a useless Ponzi scheme. Even Dimon’s stinging pronouncements have softened in recent years, as JPMorgan broadens its services related to Bitcoin and other cryptocurrencies.
While it’s unlikely he’ll ever become a Bitcoin advocate, even if the obituaries continue, Bitcoin will likely endure.