If You Invested $1000 In Bitcoin Last Time It Was Declared 'Dead,' Here's How Much It'd Be Worth Today

Bitcoin BTC/USD has been at the receiving end of numerous critiques and counterarguments since its inception as a decentralized, blockchain-based asset more than 15 years ago.

So much so that the world's largest cryptocurrency has been pronounced "dead" a staggering 477 times, according to the Bitcoin Obituaries tracking platform 99 Bitcoins.

What happened: The last time such unfavorable arguments appeared was in April.

Widely-followed investor Rafi Farber took to X to pronounce Bitcoin "dead."

"I'm calling the Bitcoin top. It happened in October 2021, at the peak of the money printing. It's over now. The next round of inflation will pour into real money, not nonexistent derivatives. We are headed to the endgame with the next inflation round," he predicted.

I'm calling the bitcoin top. It happened in October 2021 at the peak of the money printing. It's over now. The next round of inflation will pour into real money, not nonexistent derivatives. We are headed to the End Game with the next inflation round. Bitcoin is dead. pic.twitter.com/ngF5zsqQFX

— Rafi Farber (@RafiFarber) April 17, 2024

See Also: CleanSpark CEO Zach Bradford Explains Why The Company Is Betting on Bitcoin Mining, Not Buying

When Farber made this doomsday prediction, Bitcoin was worth $64,276.90. So, if you ignored his remarks and invested $1,000, you would have received 0.0155 units of the asset.

Today, the price of Bitcoin is $95,454.23. So, if you HODLed all the way up till here, your investment would be worth $1485.04, representing a 48% increase.

Why It Matters: Most of these obituaries have emerged during bear markets and regulatory pressures. 

Indeed, Bitcoin was declared "dead" as many as 27 times in 2022, a year when it lost 65% of its value.

However, as the market rebounded in 2023, the number of obituaries dwindled dramatically, reducing to only eight. 

This year’s obituary count fell to just two, showing an improvement in the overall perception of the asset and its long-term potential.

Price Action: At the time of writing, Bitcoin was trading at $95,454.23., down 0.39% in the last 24 hours, according to data from Benzinga Pro.

Read Next: 

• Can Your Bitcoin Be Confiscated If Trump Establishes A National Reserve? Analyst Says Government Can Employ Carrot-And-Stick Policy

Photo courtesy: Pixabay