There were many talks about Bitcoin failing in its early days. However, it has been able to go against all odds and continue to rise. Despite this, some people still do not believe in it yet. Bitcoin price has fascinated investors, traders, and media alike for years. Its dramatic swings and meteoric rises have made it the center of attention. Yet, not everyone sees it as a long-term solution.
Jacob King, CEO of SwanDesk, a crypto news page on X, shared a sharp perspective. He believes Bitcoin is “destined to fail.” According to King, the obsession around BTC price overshadows any real utility it might have. This argument has sparked conversations among analysts and casual investors alike.
Why Bitcoin Price Might Not Reflect Real Utility
Jacob King argues that Bitcoin price exists mostly due to speculation rather than meaningful use. He points out that BTC has been around for over 16 years, yet it is rarely used in practical everyday applications.
Compare that to the stock market, where prices at least represent companies producing goods and services. Physical commodities like gold, silver, and oil also carry tangible utility beyond being investments. BTC, in contrast, depends heavily on speculation, FOMO, and what King calls the “greater fool theory.”
King emphasizes that this foundation is fragile. Prices can be influenced by Tether-driven movements or sudden surges in retail interest. None of these forces are sustainable in the long term. Observing Bitcoin in this context, King finds it remarkable how emotion can completely override logic.
You can tell Bitcoin is destined to fail by how obsessed its community is with the price rather than any real utility. It’s been over 16 years, and still, nobody uses it for anything meaningful. Bitcoin serves no practical purpose beyond speculative gambling. Compare that to…
How BTC Community Culture Reflects Speculation
Jacob King also notes the culture surrounding BTC price. Investors seem more focused on short-term gains than on adopting Bitcoin for transactions or real-world applications.
People watch charts, track news, and react to price swings as if gambling rather than using an asset with intrinsic value. King compares this to traditional investments and commodities that serve multiple real-world purposes, which he believes Bitcoin lacks.
Even though Bitcoin continues to rise against expectations, King warns that its long-term story is fragile. BTC may survive, but the reasons behind its growth do not rely on functional adoption. The Bitcoin community’s fixation on price makes the asset more like a game of chance than a store of value.
What This Means for Bitcoin Price Going Forward
Jacob King’s perspective does not claim BTC will immediately crash. Instead, he frames it as a case study in human behavior. The price of Bitcoin can fluctuate wildly, driven by speculation rather than fundamentals. Investors watching BTC price should understand that its rise may not reflect real-world usage or long-term stability.
King’s argument paints Bitcoin as “destined to fail” in the sense that its current growth model is unsustainable. The fascination with BTC price and the lack of real-world adoption could eventually erode investor confidence. Observers may look back at Bitcoin as an extraordinary example of how greed and fear shape markets more than logic or utility.
Why the Debate Around BTC Continues
Despite the criticisms, Bitcoin remains a topic of discussion. Jacob King’s analysis reminds readers that BTC price is not the only metric to consider. The debate between speculative interest and practical adoption continues to define how people view cryptocurrencies. Some see BTC as a digital gold, while others view it as a gamble without utility. This ongoing conversation is what makes the market dynamic and unpredictable.
Jacob King’s comments are a reminder that even after 16 years, Bitcoin is not universally accepted as a functional asset. Observers of Bitcoin price may need to separate hype from real-world value when evaluating the future of BTC.