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Alex Brummer
Financial Editor
No bad takes on record — yet. We're keeping score.
They Weren't the Only Ones Wrong
“Bitcoin is bovine excrement.”
— Nicholas Weaver
$3,970at the time
“If we now say ok, bitcoins. What about platinum? What about coal? Why don’t we hold strategic beef reserves, or mutton reserves, or apple reserves? Why Bitcoin?”
— Lesetja Kganyago
$105,559at the time
“This is a speculative frenzy. Right now, this is a bubble. It's a cult. When you're in it, obviously you need more people to believe in it, because the price can only go up if other people buy in. In that sense it's a natural Ponzi scheme – a lot of it is just plain greed.”
— Peter Schiff
$4,350at the time
“There is also the argument that the price of bitcoin must go to zero because an inferior product cannot survive long-term in the absence of regulatory barriers to entry.”
— Kevin Dowd
$47,070at the time
“I’d say Bitcoin is doomed in the medium-term future. Farrell is right: it can be a bit of a curiosity, but if it ever enjoys wider success, that very success will kill it.”
— Kevin Drum
$311at the time
“Bitcoin is the greatest scam in history”
— Bill Harris
$9,648at the time
“Bitcoin is dead”
— Pascal Bouvier
$238at the time
“Long-term Bitcoin #HOLDers aren't worried as they've been through 73% declines before. But previous declines didn't involve anywhere near the total market cap lost during this decline, nor did they involve massive leverage. This crash is just beginning. #Bitcoin will not recover.”
— Peter Schiff
$18,971at the time
“Reserve assets must be secure, liquid and transparent. Bitcoin is none of these things.”
— Dr Joachim Nagel
$101,413at the time
“Why bitcoin will fail”
— Avery Pennarun
$4at the time
“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed,”
— Jamie Dimon
$4,207at the time
“Bitcoin’s fabulous rise ... will eventually end in tears”
— Richard Harris
$4,161at the time
“Bitcoin is bovine excrement.”
— Nicholas Weaver
$3,970at the time
“If we now say ok, bitcoins. What about platinum? What about coal? Why don’t we hold strategic beef reserves, or mutton reserves, or apple reserves? Why Bitcoin?”
— Lesetja Kganyago
$105,559at the time
“This is a speculative frenzy. Right now, this is a bubble. It's a cult. When you're in it, obviously you need more people to believe in it, because the price can only go up if other people buy in. In that sense it's a natural Ponzi scheme – a lot of it is just plain greed.”
— Peter Schiff
$4,350at the time
“There is also the argument that the price of bitcoin must go to zero because an inferior product cannot survive long-term in the absence of regulatory barriers to entry.”
— Kevin Dowd
$47,070at the time
“I’d say Bitcoin is doomed in the medium-term future. Farrell is right: it can be a bit of a curiosity, but if it ever enjoys wider success, that very success will kill it.”
— Kevin Drum
$311at the time
“Bitcoin is the greatest scam in history”
— Bill Harris
$9,648at the time
“Bitcoin is dead”
— Pascal Bouvier
$238at the time
“Long-term Bitcoin #HOLDers aren't worried as they've been through 73% declines before. But previous declines didn't involve anywhere near the total market cap lost during this decline, nor did they involve massive leverage. This crash is just beginning. #Bitcoin will not recover.”
— Peter Schiff
$18,971at the time
“Reserve assets must be secure, liquid and transparent. Bitcoin is none of these things.”
— Dr Joachim Nagel
$101,413at the time
“Why bitcoin will fail”
— Avery Pennarun
$4at the time
“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed,”
— Jamie Dimon
$4,207at the time
“Bitcoin’s fabulous rise ... will eventually end in tears”
— Richard Harris
$4,161at the time
“Bitcoin is bovine excrement.”
— Nicholas Weaver
$3,970at the time
“If we now say ok, bitcoins. What about platinum? What about coal? Why don’t we hold strategic beef reserves, or mutton reserves, or apple reserves? Why Bitcoin?”
— Lesetja Kganyago
$105,559at the time
“This is a speculative frenzy. Right now, this is a bubble. It's a cult. When you're in it, obviously you need more people to believe in it, because the price can only go up if other people buy in. In that sense it's a natural Ponzi scheme – a lot of it is just plain greed.”
— Peter Schiff
$4,350at the time
“There is also the argument that the price of bitcoin must go to zero because an inferior product cannot survive long-term in the absence of regulatory barriers to entry.”
— Kevin Dowd
$47,070at the time
“I’d say Bitcoin is doomed in the medium-term future. Farrell is right: it can be a bit of a curiosity, but if it ever enjoys wider success, that very success will kill it.”
— Kevin Drum
$311at the time
“Bitcoin is the greatest scam in history”
— Bill Harris
$9,648at the time
“Bitcoin is dead”
— Pascal Bouvier
$238at the time
“Long-term Bitcoin #HOLDers aren't worried as they've been through 73% declines before. But previous declines didn't involve anywhere near the total market cap lost during this decline, nor did they involve massive leverage. This crash is just beginning. #Bitcoin will not recover.”
— Peter Schiff
$18,971at the time
“Reserve assets must be secure, liquid and transparent. Bitcoin is none of these things.”
— Dr Joachim Nagel
$101,413at the time
“Why bitcoin will fail”
— Avery Pennarun
$4at the time
“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed,”
— Jamie Dimon
$4,207at the time
“Bitcoin’s fabulous rise ... will eventually end in tears”
— Richard Harris
$4,161at the time
“Bitcoin is bovine excrement.”
— Nicholas Weaver
$3,970at the time
“If we now say ok, bitcoins. What about platinum? What about coal? Why don’t we hold strategic beef reserves, or mutton reserves, or apple reserves? Why Bitcoin?”
— Lesetja Kganyago
$105,559at the time
“This is a speculative frenzy. Right now, this is a bubble. It's a cult. When you're in it, obviously you need more people to believe in it, because the price can only go up if other people buy in. In that sense it's a natural Ponzi scheme – a lot of it is just plain greed.”
— Peter Schiff
$4,350at the time
“There is also the argument that the price of bitcoin must go to zero because an inferior product cannot survive long-term in the absence of regulatory barriers to entry.”
— Kevin Dowd
$47,070at the time
“I’d say Bitcoin is doomed in the medium-term future. Farrell is right: it can be a bit of a curiosity, but if it ever enjoys wider success, that very success will kill it.”
— Kevin Drum
$311at the time
“Bitcoin is the greatest scam in history”
— Bill Harris
$9,648at the time
“Bitcoin is dead”
— Pascal Bouvier
$238at the time
“Long-term Bitcoin #HOLDers aren't worried as they've been through 73% declines before. But previous declines didn't involve anywhere near the total market cap lost during this decline, nor did they involve massive leverage. This crash is just beginning. #Bitcoin will not recover.”
— Peter Schiff
$18,971at the time
“Reserve assets must be secure, liquid and transparent. Bitcoin is none of these things.”
— Dr Joachim Nagel
$101,413at the time
“Why bitcoin will fail”
— Avery Pennarun
$4at the time
“It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed,”
— Jamie Dimon
$4,207at the time
“Bitcoin’s fabulous rise ... will eventually end in tears”
— Richard Harris
$4,161at the time
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Cite this page— APA, MLA, Chicago, BibTeX
Robert Kuttner (2026). Robert Kuttner — Bitcoin Quotes & Wrong Predictions. Buttcoiners. Retrieved October 15, 2026, from https://buttcoiners.love/author/robert-kuttner