79 votes, 125 comments. BTC fell to like 80k and now we’re bouncing back up into 86k – 87k-ish. Feels decent but idk man… something feels off. OI…
So, Jason Calacanis—angel investor, podcast co-host, and apparently part-time feline enthusiast—decided to throw a little shade on Bitcoin last week. Just as Bitcoin’s price was strutting its stuff and cleared an impressive $81,000, Calacanis jumped in with a hot take, calling Bitcoin a “bouncing dead cat.” Now, I don’t know about you, but I thought dead cats were supposed to stay, well, dead. But here we are, with Bitcoin making a comeback that has everyone scratching their heads.
For those not in the know, the phrase “dead cat bounce” is a financial term that refers to a temporary recovery in the price of a declining asset, which, let’s be honest, sounds a bit like the plot of a bad horror movie—”The Dead Cat That Came Back to Life”—starring a rather disgruntled feline. Calacanis attached a one-year chart of Bitcoin to his tweet, presumably to illustrate the point that Bitcoin’s ups and downs resemble a cat that just can’t seem to stay off the floor.
Naturally, not everyone was ready to hop on the “dead cat” bandwagon. Enter Michael Saylor, the CEO of MicroStrategy and Bitcoin bull extraordinaire. Saylor didn’t take too kindly to Calacanis’s comments and fired back, reminding everyone that Bitcoin is not just a fleeting trend but, in fact, a revolutionary asset. It’s like Saylor walked in wearing a cape and said, “Not today, Calacanis!”
And then there’s Cathie Wood, the CEO of ARK Invest and another Bitcoin supporter who chimed in, asserting that Bitcoin is definitely not a dead cat. In her eyes, Bitcoin is more like that energizer bunny that just keeps going and going. It’s almost as if she’s saying, “Look, it’s not dead; it’s just taking a catnap!”
Now, if you’re wondering why all this drama matters, well, it’s because Bitcoin has become a focal point of financial discussions in recent years. It’s the kid on the playground that everyone either wants to be friends with or throw mud at. And with high stakes come high emotions. Calacanis’ comments might just be a reflection of the skepticism that still looms over cryptocurrencies, especially from traditional investors who feel like they’re watching a high-stakes game of poker where the chips are made of digital gold.
The real question is: will Bitcoin continue to bounce back like a cat that’s had one too many lives? Or will it eventually go the way of the dodo? Only time will tell, but for now, it seems like Bitcoin is still very much alive and kicking, much to the chagrin of its critics. So, to all the Bitcoin believers out there, keep your heads up. And to the skeptics like Calacanis, perhaps it’s time to let that dead cat rest in peace—or at least give it a proper burial, rather than a series of tweets.
In the end, whether you think Bitcoin is a bouncing dead cat or the future of finance, one thing is for sure: it’s certainly entertaining to watch the drama unfold. Who knew cryptocurrency could be this much fun? Grab your popcorn, folks; the show is just getting started!
Inspired by: “Calacanis Calls Bitcoin a Dead Cat, Saylor and Cathie Wood Fire Back” (r/Crypto)