# Bitcoin Shatters $110K: The Skeptics Who Got It Wrong

**Published by:** [TALK ABOUT WEB3](https://paragraph.com/@exercise/)
**Published on:** 2025-05-25
**Categories:** bitcoin
**URL:** https://paragraph.com/@exercise/bitcoin-shatters-dollar110k-the-skeptics-who-got-it-wrong

## Content

The code born in 2008 has weathered storms and skeptics alike, and this week Bitcoin cemented its immortality by soaring past $110,000 to a record $111,963. With a $2.2 trillion market cap, it now eclipses Amazon as the world’s fifth-most-valuable asset. For believers, this milestone delivers poetic justice: No long-term Bitcoin holder has ever lost money. MicroStrategy, the corporate flag-bearer of BTC accumulation, sits on $23 billion in unrealized gains. Its chairman Michael Saylor even taunts: "If you’re not buying at all-time highs, you’re already behind." Yet Bitcoin’s ascent also exposed high-profile detractors—voices of authority who dismissed it as worthless. As their predictions crumble, we revisit their most infamous quotes.Warren Buffett: "Rat Poison Squared"The Oracle of Omaha’s anti-BTC tirades:2013 (~$100/BTC): "Bitcoin is rat poison."2018 (~$9,000): "Probably rat poison squared."2019: "It’s a gambling device… No intrinsic value."The Missed Opportunity Berkshire Hathaway’s cash hoard grew from $112B (2018) to $350B (2025)—a bet against traditional markets. Had it allocated just 1% to BTC in 2018 (~$14K peak), that $1.1B would now be worth $8.6B. Buffett retires in 2024, leaving successor Greg Abel to grapple with this legacy.Trump’s 180: From "Scam" to Crypto KingmakerThe Anti-Crypto Era2019: "Not a fan. Volatile and facilitates crime."2021: "A scam competing with the dollar."The Pivot Facing 2024 reelection, Trump embraced crypto to court a growing voting bloc. Post-victory, his empire monetized the trend:Launched World Liberty Financial crypto projectIssued TRUMP meme coin and USD1 stablecoinVerdict: Cynical? Yes. Impactful? Undeniably.Bill Gates: "Greater Fool Theory"The Microsoft co-founder’s stubborn skepticism:2018: "I’d short BTC if I could."2022: "NFTs are pure greater-fool theory."2024: "Crypto adds no societal value."Yet BTC’s "fools" now laugh all the way to the bank.Jamie Dimon’s "Cigarette" ParadoxJPMorgan’s CEO has called BTC:"A fraud" (2017)"Worthless" (2021)"Like smoking—legal but unwise" (2025)Irony: JPMorgan launched its own stablecoin (JPMCoin) in 2019 and now offers BTC trading.Larry Fink’s RedemptionBlackRock’s CEO evolved from critic to evangelist:2017: "Crypto indexes global money laundering."2023: "Digital gold."2024: "What’s the price of human freedom?" (on BTC’s value)2025: Predicts "$500K–700K BTC."Proof even Wall Street’s old guard capitulates.Jack Ma’s Blockchain Double StandardThe Alibaba founder’s 2018 take: "Blockchain isn’t a bubble—Bitcoin is." A common tech-exec refrain: Praise the tech, scorn its native asset.Lang Xianping’s $3.5M RegretThe economist’s 2014 quip: "I’d refuse free Bitcoin—it’s worthless." 2025 Math: That rejected BTC would now buy a Shanghai penthouse.The Verdict: Bitcoin as Digital FaithBTC’s rise mirrors religious movements:No churches, but a decentralized congregation.No scripture, but an immutable ledger.To skeptics: "Generations change, but adoption marches on." As MicroStrategy’s Saylor quips: "There are two types of companies—those that buy Bitcoin, and those that will." The market has spoken—and the faces of doubt still sting. Final Thought: When "rat poison" outperforms every asset class, perhaps the poison was in the narrative all along.Data as of May 2025. All "face-slapping" calculations are approximate and for illustrative purposes.

## Publication Information

- [TALK ABOUT WEB3](https://paragraph.com/@exercise/): Publication homepage
- [All Posts](https://paragraph.com/@exercise/): More posts from this publication
- [RSS Feed](https://api.paragraph.com/blogs/rss/@exercise): Subscribe to updates

## Optional

- [Collect as NFT](https://paragraph.com/@exercise/bitcoin-shatters-dollar110k-the-skeptics-who-got-it-wrong): Support the author by collecting this post
- [View Collectors](https://paragraph.com/@exercise/bitcoin-shatters-dollar110k-the-skeptics-who-got-it-wrong/collectors): See who has collected this post