Bitcoin Myths, Part 5
Bitcoin Has Been Declared Dead Hundreds of Times
When Will Bitcoin Die?
Did you know that the media has declared Bitcoin dead over 440 times! Just take a look at BitcoinDeaths.com 1 and see for yourself. Yet Bitcoin still grows at an average of 86 percent per year and continues to expand. If you had invested $100 each time the media spread FUD (Fear, Uncertainty, and Doubt), you would be worth over $114 million today.
So why does the “Bitcoin is dead” narrative persist when the data keeps proving it wrong? The narrative persists because Bitcoin is volatile, and volatility produces fear-driven headlines that generate clicks and ad revenue. Every major price drop looks like “death” if you ignore long-term adoption. Media incentives favor fear and immediacy, not slow, compounding growth. 2
To compare the media’s scare tactics with reality, let’s look at Bitcoin’s actual growth rate.
It’s important to understand that wallet counts do not perfectly represent users. Exchanges like Coinbase have millions of users but only a handful of addresses. 3 One person can also control many Bitcoin addresses. 4 I probably have ten of them.
This means that 60 million wallet addresses by 2024 does not mean there are 60 million users, but it does show massive growth.
If we compare 10,000 wallets in 2010 to 60 million wallets today, that is an annual growth rate of roughly 86 percent per year.
This does not look like death. It looks like life!
Of course, some years were better than others, but anything that grows at an 86 percent average is certainly not dying. If Bitcoin wallet growth continues at that rate over the next five years, there will be more than one billion wallets. Even if everyone had ten different addresses, like me, that would still be 100 million users on chain. And that is not even counting centralized exchanges that have millions of users but few wallets.
Even though Bitcoin has experienced sustained, explosive growth, many people still think it is dead. Why? Because the news says so.
Something that “dies” 440 times and keeps growing isn’t mortal. It’s Bitcoin.
Final Word
Just HODL.
“The reports of my death are greatly exaggerated.” — Mark Twain
Crypto Confidence School
If you are tired of constantly reacting to headlines and want to understand the fundamentals of Bitcoin and crypto more broadly, I run a small private community called Crypto Confidence. The focus is on how these systems actually work, why some persist while others fail, and how adoption develops over time. We cover first principles, wallets and custody, and how different crypto assets fit into the broader financial system. There are no buy lists, no trading signals, and no instructions on what to purchase. Just practical education and thoughtful discussion.
DISCLAIMER: This article is for informational and educational purposes only and should not be construed as financial, investment, tax, or legal advice. The author is not a licensed financial advisor, and nothing in this article constitutes a recommendation to buy, sell, or hold any cryptocurrency, gold, or other asset. Cryptocurrency investments are highly volatile and risky, and you could lose all of your invested capital. Past performance does not guarantee future results. Always conduct your own research and consult with a qualified financial advisor before making any investment decisions. The author operates a paid cryptocurrency education course and may hold positions in assets discussed.
https://bitcoindeaths.com/
https://pmc.ncbi.nlm.nih.gov/articles/PMC10202797/?utm_source=chatgpt.com
https://www.businessofapps.com/data/coinbase-statistics/
https://bitcoin.stackexchange.com/questions/83227/is-there-a-limit-to-the-number-of-bitcoin-addresses
there is no fundamentals in bitcoin