This week, Bitcoin soared past $110,000, setting a new all-time high at $111,963. With a market cap of $2.2 trillion, Bitcoin now ranks fifth globally—surpassing even Amazon. This milestone reaffirms Bitcoin's unbroken promise: since its 2008 inception, it has never financially betrayed long-term holders. Notably, Strategy Corporation's Bitcoin holdings now yield over $23 billion in unrealized gains, with Executive Chairman Michael Saylor declaring, "Failing to buy Bitcoin at its peak means missing the boat."
Yet Bitcoin's journey has been punctuated by skeptical voices dismissing it as worthless. Below, we revisit these critiques—now rendered ironic by Bitcoin's relentless ascent.
The Skeptics' Gallery: From Doubt to Debunked
Warren Buffett: "Bitcoin Is Rat Poison Squared"
The "Oracle of Omaha" has consistently derided Bitcoin:
- 2013: Called Bitcoin "rat poison" at $100
- 2018: Upgraded to "rat poison squared" at $9,000
- 2019: Dubbed it "a gambling device" with "no intrinsic value"
What If Buffett Had Invested?
Had Berkshire Hathaway allocated just 1% of its $111.8B 2018 cash reserves ($11B) to Bitcoin at $14,000, that position would now be worth **$86B+**. Systematic BTC investments could have reshaped Berkshire's portfolio.
Donald Trump's Volatile Crypto Romance
The self-proclaimed "Crypto President" wasn't always bullish:
- 2019: Tweeted that cryptocurrencies "facilitate illegal activities"
- 2021: Declared Bitcoin "a scam," predicting sub-$6,000 prices
- 2024-25: Embraced crypto for electoral gains, launching TRUMP memecoin and USD1 stablecoin
👉 How politicians leverage crypto for power
Bill Gates: "I’d Short Bitcoin If I Could"
The Microsoft co-founder remains skeptical:
- 2018: Called Bitcoin a "greater fool theory" investment
- 2022: Dismissed NFTs similarly
- 2024: Maintained that crypto "adds no societal value"
Jamie Dimon's Reluctant Capitulation
JPMorgan's CEO famously compared Bitcoin to "smoking" but still profits from it:
- 2014-21: Called BTC everything from "fraud" to "worthless"
- 2025: Permitted client BTC purchases (but no custody)
"I don’t smoke, but I’ll sell you cigarettes." — Corporate pragmatism at its finest.
Larry Fink’s Dramatic U-Turn
BlackRock's CEO evolved from critic to evangelist:
- 2017: Labeled Bitcoin a "money laundering index"
- 2023: Hailed it as "digital gold"
- 2025: Predicted $500K-$700K prices, calling BTC "the price of human freedom"
Asian Titans: Ma & Lang’s Resistance
- Jack Ma (2017-21): "Blockchain ≠ Bitcoin. The latter is a bubble."
- Lang Xianping (2014-18): "I’d refuse free Bitcoin"—cue the meme.
Bitcoin: The Digital Religion
With each new high, Bitcoin mocks its detractors. It needs no cathedrals—its blockchain is the scripture, its nodes the congregation. As skeptics age out, fresh believers ensure its legacy grows.
👉 Why Bitcoin’s next chapter matters
FAQ: Bitcoin’s Unstoppable Rise
Q: Is Bitcoin still a good investment after $110K?
A: Historical patterns suggest BTC rewards long-term holders despite volatility.
Q: Why do critics change their stance?
A: Economic incentives often override ideological resistance—see Trump’s 2024 pivot.
Q: What drives Bitcoin’s value?
A: Scarcity (21M cap), decentralization, and growing institutional adoption.
Q: Could governments ban Bitcoin?
A: Increasingly unlikely as nations like El Salvador adopt it as legal tender.
Q: How does BTC compare to traditional assets?
A: It’s uncorrelated with stocks/bonds—a key portfolio diversifier.
Q: What’s the biggest risk?
A: Regulatory shifts, though the 2025 U.S. embrace suggests softening hostility.