Bitcoin is dead. That phrase has been uttered by the mainstream media more than 500 times since 2010. In 2024, however, that ominous saying was used the least ever. Bitcoin was reported dead or dying only a dozen times. That’s saying a lot, seeing as BTC crashed to $40,000 to start off the year.
Today, let’s explore if anything can kill Bitcoin and if there’s any truth to these “Bitcoin is dead” claims.
Can Regulators Kill Bitcoin?
The Federal Reserve, led by chairman Jerome Powell, doesn’t take too kindly to
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and most other cryptocurrencies. Powell and the Fed only seem to understand the value of stablecoins.
Along with Powell, several notable politicians have expressed greater favorability for stablecoins over BTC.
“You wouldn’t need stablecoins; you wouldn’t need cryptocurrencies if you had a digital U.S. currency,”It’s happening! Texas will be the crypto leader,” tweeted Gov. Greg Abbott
Furthermore, former Treasury Secretary Janet Yellen, has voiced several concerns over cryptocurrency and urged the Fed to regulate stablecoins ASAP.
“I think many are used, at least in a transactions sense, mainly for illicit financing, and I think we really need to examine ways in which we can curtail their use and make sure that money laundering does not occur through these channels,” Yellen said.
This sounds very scary for BTC… except it’s really not.
Why a Bitcoin Ban Won’t Work
One country’s failure to realize the opportunity with Bitcoin and Ethereum is another’s gain—or another state’s gain.
“It’s happening! Texas will be the crypto leader,” tweeted Gov. Greg Abbott following the Chinese ban on Bitcoin mining.
Moroever, Trump’s presidency has marked a shift in US crypto policy, with states like Wyoming, Texas, Florida, and South Carolina adopting regulatory frameworks that welcome innovation. These early movers are positioning themselves to reap the rewards of a more crypto-friendly approach
Don’t forget that BTC is not only maxed out at 21 million; it’s a deflationary currency. An asset like this is something that the US needs desperately right now after printing 20% of all U.S. dollars ever created.
That’s one-fifth of ALL U.S. dollars ever created in 2020 alone to fuel stimulus packages and financial bailouts.
So, is Bitcoin Dead?
The number one mistake people make in cryptocurrency is investing before understanding it. This is the same reason so many people call Bitcoin dead.
Once there’s a little blood in the water, newbie investors sell off, and corporate media call Bitcoin dead for a few extra clicks. Bitcoin takes pride in its death sentences. The more the network overcomes them, the stronger BTC is as a whole.
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Key Takeaways
- Bitcoin is dead, BTC crashed. That phrase has been uttered by the mainstream media more than 500 times since 2010.
- The Federal Reserve, led by chairman Jerome Powell, doesn’t take too kindly to Bitcoin and most other cryptocurrencies.
- The number one mistake people make in cryptocurrency is investing before understanding it. This is the same reason so many people call Bitcoin dead.
The post Bitcoin is Dead Again, What Does it Mean? appeared first on 99Bitcoins.
