'Bitcoin Is Going to Die' - The Latest Death Warning Comes from Oscar-Nominated Actor

The Hollywood actor best known for movies like Hustle & Flow, which secured him an Academy Award nomination, the original Iron Man, and Get Rich or Die Trying, has joined the bitcoin skeptics’ side.

In a recent appearance on Patrick Bet-David’s PBD Podcast, he envisioned BTC’s upcoming demise. However, he is not the first, and many, many have been wrong in the past.

‘Bitcoin Is Going to Die’

Bitcoin death proclamations are nothing new, as they have been going left and right ever since the network (and underlying asset) saw the light of day over 17 years ago. Although such strong statements have declined in number lately, there are still some that make it out to the open, and when they are coming from a famous person, especially one not related to the cryptocurrency industry, we have to explore.

Howard falls under both categories. While speaking on different investments during the PBD Podcast, he was emphatic, stating:

“Bitcoin is going to die, I don’t mess with it.”

He explained that he recently received a call from a friend of his who offered him an investment opportunity that would earn him $75,000 if he put down $25 million. However, he failed to provide details on what the investment was or how it was related to bitcoin, as the cryptocurrency itself does not promise such returns.

“Bitcoin is still based on fiat, and because the dollar is decreasing in its value, because of the uncertainty of war around. Nobody wants their money in something that can be wiped out with the push of a button somewhere. I’ve stayed clear of it because it has been dropping a great deal,” ends the video on X.

Let’s Dissect

Aside from the lack of details on the aforementioned investment opportunity, there are some other controversial statements in Howard’s words. First, bitcoin is NOT based on fiat – it’s commonly priced in fiat currencies, but 1 BTC is always 1 BTC.

Second, we didn’t really understand the part of “because of the dollar is decreasing and the uncertainty of war around” – perhaps he related that to his last statement that BTC has been dropping a great deal lately.

That’s true, the asset trades 50% away from its all-time high seen in October last year. However, it trades around its previous ATH, and the more macro scale shows massive returns for investors. Additionally, BTC tends to move in cycles and now appears to be the bearish period.

The part of “nobody wants their money in something that can be wiped out with the push of a button” is also interesting. And wrong. Who is that someone? What’s that button? How can it wipe out BTC? And – ‘nobody wants their money’ in bitcoin? Really? What about the billions in ETF inflows? Or corporations buying bitcoin as their preferred reserve asset? Or, even governments buying BTC?

Anyways, bitcoin is no stranger to being declared dead. In fact, there have been nearly 500 such documented cases during its teenage existence. For now, though, nobody has been correct.