Detractors humiliated for almost 16 years. Since his birth in January 2009, Bitcoin (BTC) has been declared dead 415 times by very misguided “experts”. While the king of cryptocurrencies has exceeded $100,000 per BTC at the end of 2024, let’s take a quick summary of the worst pessimistic, even hostile, statements towards Bitcoin and the crypto-asset sector.
- Bitcoin has been declared dead 415 times by experts since its creation, but almost 16 years later, the cryptocurrency is stronger than ever and has even surpassed $100,000.
- Central bankers and some regulators, such as Gary Gensler, have consistently expressed strong opposition to Bitcoin and cryptocurrencies.
Central bankers: the most hateful against their competitor Bitcoin
If there are many people who hate Bitcointhese are undoubtedly the employees of central banks. It must be said that the creator of this very first cryptocurrency, Satoshi Nakamotowanted it, Bitcoin, precisely in reaction to the economic disasters that central banks provoke, with their fiat currencies that they manipulate at leisure.
Where their currencies fiatbased on the only trust in their issuing State (since the end of the gold standard in 1971), are centralized, inflationary and permanently subject to interventionism bankers, Bitcoin is quite the opposite ! No wonder the European Central Bank (BCE) can thus come out with such nonsense (the 1era date of February and the 2e of October):
“Bitcoin has failed on its promise to become a globally decentralized digital currency and is still hardly used for legitimate transfers [ndlr : totalement FAUX, seulement 0,03 % du volume total des échanges serait lié au blanchiment d’actes illicites]. The recent approval of an ETF does not change the fact that Bitcoin is not suitable as a means of payment or as an investment. »
European Central Bank
“Nakamoto’s (2008) initial promise to provide the world with a better global payment method has not come to fruition. Instead, the focus has increasingly shifted to bitcoin as an investment asset promising high capital gains. The proponents of this investment vision have made little effort to link bitcoin to an economic function that would justify its valuation. »
European Central Bank
-
Regulators: some have remained anti-crypto fanatics
If central bankers are beyond redemption, given that Bitcoin ridicules et weakens their fiat currency, regulators have on their side rather evolved positively. Well, only for some!
Because there remains sacred sectarians. And how can we talk about the worst anti-crypto statements of 2024, let alone Gary Gensler. The president of the SEC (Securities and Exchange Commission) became infamous for his immoderate hatred against the digital asset sector. Barely had he had to sell Bitcoin ETFs for cash on January 10, 2024, he was immediately angry:
“Today, the Commission approved the listing and trading of a number of spot Bitcoin exchange-traded products (ETPs). (…) The Commission has deprecated more than 20 repositories rule changes for spot Bitcoin ETPs. (…) Although we are neutral (sic !) on merit, I would like to point out that (…) Bitcoin is primarily a speculative and volatile asset, which is also used for illicit activities, including ransomware, money laundering, sanctions evasion and financing of terrorism. »
Declaration of SEC Chairman Gary Gensler (but not for long, fortunately)
That day, Gary Gensler also said that the SEC’s acceptance ” limits itself to ETPs holding a raw material which is not a security : Bitcoin”. But lack of chances for him, already growing strength of Donald Trump’s Republican camp finally got it forced to also accept Ethereum ETFs in cash only a few months later (while Gensler had still refused to say whether or not Ethereum was a securities). But from January 20, 2025, this sad sir will leave his post. As for the central bankers, they have not finished saying bad things about Bitcoin, until their respective fiat currencies have collapsed (as any currency fiatsooner or later).
