Steve Hanke on Bitcoin
The Johns Hopkins economist has called Bitcoin a speculative asset with a fundamental value of zero, and has said so on most of its big drawdowns.
Every Steve Hanke Bitcoin quote
So Much For Bitcoin Being 'Digital Gold'
“So much for Bitcoin being 'digital gold.' BITCOIN = A HIGHLY SPECULATIVE ASSET WITH NO FUNDAMENTAL VALUE.”
Bitcoin = A Highly Speculative Asset With Zero Fundamental Value
“Since DAY ONE, my position has remained consistent: BITCOIN = A HIGHlY SPECULATIVE ASSET WITH ZERO FUNDAMENTAL VALUE. END OF STORY.”
Fundamental Value Of Zero
“#Bitcoin’s volatility is its Achilles' heel and the reason it will never serve as a reliable unit of account or currency. Bitcoin is nothing more than a highly speculative asset with a fundamental value of ZERO.”
Bitcoin Will Never Be Considered A Currency
“Many people believe that #Bitcoin is the "currency of the future." However, Bitcoin's volatility should punctuate the fact that it will NEVER be considered a currency. #BTC is just a highly speculative asset, and anyone who believes otherwise is living in fantasyland.”
Bitcoin Will NEVER Be Considered A Currency
“Wildly volatile, highly speculative, and fundamentally worthless. #Bitcoin will NEVER be considered a currency. Are the #BTC evangelists and enthusiasts blindly digging their own graves?”
Bitcoin's Fundamental Value Is Zero
“#BREAKING: another day, another record for #Bitcoin. Today, bitcoin broke $55,000/#BTC, which represents a 473% gain in the past 12 months. Remember, while the BTC bubble keeps growing, it’s fundamental value is zero.”
Buying Bitcoin Is A Fool's Game
“Don’t be fooled by #bitcoin’s recent bump. Buying bitcoin is a fool’s game.”
Bitcoin Is Unreliable And Susceptible To Fraud
“Bitcoin is up 6% to its yearly high of around $6,000. Don’t be fooled, a 6% uptick is nothing after its huge plunge. Bitcoin is unreliable and susceptible to fraud, it is not a currency, but nothing more than a highly-speculative asset”
Don't Be Tricked, Buying Bitcoin Is A Fool
“Bitcoin is down below $4,000./ BTC from nearly $20,000/BTC a year ago. Bitcoin is all about speculation. Don’t be tricked, buying bitcoin is a fool’s game.”
Bitcoin Is Still Just A Speculative Asset
“Despite being valued at more than $4,500, #Bitcoin is still just a speculative asset.”
How the predictions aged
Professor of applied economics at Johns Hopkins University and a former member of the Council of Economic Advisers under President Reagan. He has said Bitcoin has a fundamental value of zero. The first entry here is from August 20, 2017, when Bitcoin was $4,111. The latest is from November 16, 2025, at $95,557. Bitcoin at the time of the most recent obituary in this database was about 19 times its price at the first criticism.