According to CryptoPotato, Bitcoin has faced numerous skeptics since its inception, with many predicting its eventual failure. However, in 2023, the number of 'Bitcoin Obituaries' has significantly declined. Educational website 99 Bitcoins has been tracking these obituaries since 2010, and this year, only seven articles have predicted the cryptocurrency's imminent demise. This is the lowest number of obituaries since 2012, with 124 recorded in 2017 and 93 in 2018.
Among this year's obituary writers were early Facebook investor Chamath Palihapitiya and J.P. Morgan CEO Jamie Dimon. Palihapitiya declared 'Crypto is dead in America' on his All In podcast, while Dimon called Bitcoin a 'hyped-up fraud' on CNBC's 'Squawk Box'. Despite these claims, Bitcoin is on the verge of being approved by U.S. regulators at the Securities and Exchange Commission for an ETF product. This development has revitalized crypto markets and demonstrates that U.S. courts and regulators do not view Bitcoin as a fraud.
Casa CTO and co-founder Jameson Lopp created a graph of the Bitcoin obituaries bubble, which peaked in 2017. As Bitcoin continues to survive and grow, the genre of journalism predicting its demise appears to be fading. One Bitcoin trader even predicted that in two to three more cycles, saying Bitcoin is going to die will be as silly as saying 'air' is going to fail.
