Gary Stevenson, the individual who titles himself the “Greatest Trader Alive,” has persistently labeled Bitcoin as a worthless scam that is destined to fall to zero, attributing its value solely to promotional hype. However, his loud claims starkly contradict the existing dynamics of the cryptocurrency market.
Supported by technical data, adoption trends, and insights from the market, this analysis debunks Stevenson’s statements, showcasing a divide between his rhetoric and the actual state of affairs.
Bitcoin’s Resilience Amidst Skepticism
Stevenson’s criticism is founded on three principal arguments:
- Bitcoin costs nothing to produce,
- Its rise is purely based on hype,
- Its value is bound to crash.
These claims, frequently echoed in his YouTube videos, fail to acknowledge the complexities of Bitcoin’s ecosystem, which includes the energy-intensive mining process, institutional investment, and increasing acceptance worldwide.
“Hope he didn’t get too REKT 🧡 " – Mike Still @MikeStillBTC (Translation: Hope he didn’t get too wrecked)
A deeper dive reveals that Bitcoin mining, contrary to Stevenson’s claim of it being free, demands significant energy and resources. As of this month, mining difficulty has reached new heights, and the demand for advanced computing equipment continues to soar. The energy consumed by Bitcoin networks rivals that of entire nations.
By early 2025, around 28% of the U.S. population owned cryptocurrencies, nearly double since 2021, with platforms like YouTube playing a pivotal role in spreading knowledge and acceptance.
Institutional Belief in Bitcoin
Moreover, Stevenson’s assertions about Bitcoin being solely a marketing-driven model ignore its increasing adoption as a legit form of currency by major institutions. Companies like MicroStrategy are now holding portions of Bitcoin as a treasury asset, while major ETFs are setting records for growth, indicating a strong belief in Bitcoin’s viability.
Furthermore, expert projections defy Stevenson’s doomsday scenario, with analyses predicting Bitcoin’s potential growth to $250,000 or even higher.
Conclusion
In essence, Gary Stevenson’s harsh judgement of Bitcoin doesn’t stand firm against the mounting evidence favoring its growth and resilience. From the challenges of mining to institutional backing, soaring acceptance to technological advancements, the indicators consistently contradict his assertions at every point.
