Benzinga - Venture capitalist Chamath Palihapitiya, in April 2023, pronounced the death of Bitcoin (CRYPTO: BTC), declaring that “Crypto is dead in America,” in an episode of the All-In Podcast.
What Happened: These remarks align with a long-standing trend of skeptics who have repeatedly sounded the death knell for the apex cryptocurrency.
According to 99 Bitcoins, a source that monitors crypto obituaries, there have been a staggering 474 instances where individuals have proclaimed “game over” for blockchain technology.
Palihapitiya had blamed the demise of cryptocurrencies on regulatory bodies, particularly the Securities and Exchange Commission (SEC). “The United States authorities have firmly pointed their guns at crypto."
At the time of Palihapitiya’s statement, Bitcoin was trading at a value of $27,817.50. Despite periodic downturns and negative sentiment, the apex cryptocurrency continues to persevere, leaving skeptics scrambling for their premature obituaries.
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Why It Matters: Bitcoin on Tuesday reached $34,522, an important milestone after the news that BlackRock ETF, known as the iShares Bitcoin Trust, has been added to the curated list of the Depository Trust and Clearing Corporation (DTCC), indicating significant progress towards its eventual launch.
If you had invested $100 in Bitcoin when Palihapitiya declared in April 2023 that “Crypto is dead in America,” you would have seen a 22% increase in your investment today. This would have made your total investment worth $122.
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