In the world of finance, no asset has been declared "dead" more frequently than Bitcoin. For over 15 years, economists, billionaire investors, and major media outlets have repeatedly predicted that Bitcoin’s value would inevitably crash to zero ($0).
According to the famous "Bitcoin Obituaries" tracker, the digital currency has been officially declared dead over 470 times. Yet, it continues to defy the critics.
The Major "Crash to Zero" Narratives
Throughout its history, specific events triggered massive waves of skepticism:
The 2011 "Burst": When Bitcoin dropped from $32 to $2, critics called it a failed experiment. Forbes published articles suggesting the party was over before it even began.
The Mt. Gox Collapse (2014): When the world’s largest exchange was hacked and went bankrupt, the consensus was that Bitcoin had lost all credibility and would vanish.
The 2018 "Crypto Winter": After hitting nearly $20,000, Bitcoin crashed to $3,000. Renowned economists, including Nouriel Roubini, labeled it the "Mother of all Bubbles" and predicted a total collapse to zero.
The China Ban (2021): When China banned Bitcoin mining, many believed the network would physically shut down, leading to a permanent price floor of zero.
The FTX Fallout (2022): Following the collapse of the FTX exchange, the European Central Bank (ECB) published a blog titled "Bitcoin’s Last Stand," arguing it was on the road to irrelevance.
Notable Critics
Some of the world’s most influential financial figures have led the "zero" charge:
Warren Buffett: Called it "rat poison squared," claiming it has no unique value.
Peter Schiff: A gold advocate who has predicted Bitcoin’s move to zero at almost every price drop for a decade.
Jamie Dimon: The CEO of JPMorgan once called it a "fraud" that would eventually be blown out of the water.
Why It Hasn't Hit Zero
Despite the rumors, Bitcoin remains the best-performing asset of the last decade. Three pillars keep it alive:
Decentralization: No single government or CEO can shut it down.
Scarcity: There will only ever be 21 million coins.
Institutional Adoption: With giants like BlackRock launching Bitcoin ETFs and countries like El Salvador adopting it as legal tender, the "zero" argument has become increasingly difficult to defend.
Conclusion
The history of Bitcoin rumors shows a clear pattern: whenever the price drops significantly, the "it’s going to zero" narrative returns. However, history also shows that Bitcoin has used every "death" as a stepping stone to reach a new all-time high.