Since its 2009 debut, the crypto king has faced relentless predictions of doom from finance bigwigs and pundits, only to emerge stronger each time. 

With its price soaring past US$100,000 in 2025, here are five moments Bitcoin flipped the script on its critics, proving it’s here to stay.

1. Jamie Dimon’s “Fraud” Flop

JPMorgan CEO Jamie Dimon is as vocally anti-Bitcoin as it gets. In 2017, he threw shade on Bitcoin, calling it a “fraud,” and more recently called the cryptocurrency a “pet rock.” The market laughed: Bitcoin rocketed to US$20,000 by the end of 2017. Fast-forward to 2025, and it’s trading north of US$100K, with JPMorgan having no choice but to allow their clients to buy Bitcoin in May. Dimon’s hot take aged like milk, as Bitcoin’s decentralized allure proved too strong for traditional finance’s skepticism.

2. ETF Rejections

When the US Securities and Exchange Commission (SEC) shot down Bitcoin ETF proposals in 2018, social media exploded with “death spiral” hot takes. Bitcoin’s price tanked below US$4,000, and critics smelled blood. But the OG crypto bounced back, hitting new highs by 2021. Institutional money from BlackRock and others, plus halving-driven scarcity, turned the narrative upside down.

3. Peter Schiff’s US$2,000 Faceplant

Goldbug Peter Schiff has been one of Bitcoin’s loudest skeptics, notably predicting a crash to US$2,000 in 2019. What actually happened was Bitcoin held steady above US$7,000 for most of the year. Schiff’s bearish rants are now a meme, often signaling a price bottom. Talk about a reverse oracle.

4. Calvin Ayre’s Zero-Zero Bet

Billionaire Calvin Ayre bet big against Bitcoin in 2019, claiming it’d plummet to zero as the cryptocurrency had no utility. Spoiler: it didn’t crash. Bitcoin stayed above US$7,000 and kept climbing, fueled by adoption in inflation-ravaged economies and institutional FOMO. Ayre’s prediction is now a footnote in crypto’s victory lap.

5. Early Haters Get Humbled

Back when Bitcoin was a nerdy experiment, economists like Nouriel Roubini scoffed, calling it a tulip-style bubble. Despite early hacks and volatility, Bitcoin didn’t just survive. It thrived, morphing into a global asset class. Its 21-million-coin cap and decentralized backbone outsmarted the doubters.

The Takeaway for Founders

Bitcoin’s knack for proving skeptics wrong is a masterclass in resilience for entrepreneurs. Its decentralized tech offers businesses a playbook for borderless payments and blockchain innovation. 

To be part of this transformative shift, explore celebrated economist Saifedean Ammous’s The Bitcoin Academy microcourse at Genius Academy, where you’ll learn about the fundamentals of the world’s top cryptocurrency and use the knowledge to reshape your own business opportunities.

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Bitcoin smashed through $120,000 on Monday, setting a new record high and signaling a transformative era for wealth creation. 

Peaking at $123,000 before settling around $119,800, the world’s largest cryptocurrency by market capitalization is riding a wave of institutional demand, with $1.18 billion in Bitcoin exchange-traded fund (ETF) inflows recorded in a single day in 2025. This rally showcases Bitcoin’s growing dominance and its unique potential for entrepreneurs of the future.

Institutional investors, including corporate treasuries, are fueling Bitcoin’s rise with massive purchases. The US House of Representatives is gearing up for “Crypto Week,” deliberating bills like the Genius Act, which could provide clear regulations for digital assets and US dollar-pegged stablecoins. Backed by pro-crypto President Donald Trump, these changes are boosting confidence and tightening Bitcoin’s supply. 

Over the past six to eight weeks, institutions have invested $15 billion in Bitcoin ETFs, while retail investors remain on the sidelines. Analysts forecast Bitcoin could reach $140,000–$160,000 by year-end, despite potential short-term volatility from US Federal Reserve rate hikes tied to trade disputes.

For entrepreneurs, Bitcoin’s surge opens unprecedented opportunities. Its decentralized nature empowers innovators to bypass traditional financial gatekeepers, enabling borderless transactions, lower costs, and direct access to global markets. As a hedge against inflation and currency devaluation, Bitcoin offers a stable foundation for building businesses in an uncertain economic landscape. Clearer regulations will further unlock entrepreneurial potential, stimulating innovation in blockchain-based startups, payment systems, and digital asset ventures.

Bitcoin’s evolution from a niche asset to a global store of value positions it as a critical tool for future entrepreneurs. Understanding its potential is key to thriving in this new financial paradigm. 

“The Bitcoin Standard” microcourse by celebrated economist and author Saifedean Ammous, available exclusively at Genius Academy, equips you with the knowledge to harness Bitcoin’s power. Designed for aspiring entrepreneurs and investors, this course explores Bitcoin’s economic principles and why it’s the currency of the present and future.

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