Bitcoin Critic David Stockman Gets Reality Check After Popular Analyst Likens BTC Slump To Drawdowns In 'Trillion Dollar Stocks' Like Nvidia, Amazon

2026년 2월 27일 · Unknown · financial · 출처 Yahoo Finance

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Cryptocurrency analyst Willy Woo countered former White House official David Stockman‘s critique of Bitcoin’s (CRYPTO: BTC) “store of value” narrative on Tuesday, noting that top Wall Street stocks endured similar volatility in the past.

Stockman Mocks Bitcoiners

In an X post, Stockman questioned Bitcoin’s recent performance, highlighting its 48% drop from record highs to $65,000 in just four months.

Stockman, a fierce critic of all things cryptocurrency, jabbed at Bitcoiners, saying that they might be loving this “store of value” performance.

“Then again, a speculative asset is one thing; real money is a wholly different kettle of fish,” the former Reagan budget director said.

Agree 100% David. Furthermore, look at these piece of shit "trillion dollar" stocks that draw down similarly, they should never have a place in a wealth portfolio, let alone the SP500 which has served as the world's store of value for 50+ years. pic.twitter.com/dk74Gd4zo3

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Analyst Draws Attention To Past Drawdowns In ‘Mag 7’

Woo, a longtime Bitcoin advocate, fired back, comparing similar drawdowns in trillion-dollar S&P 500 stocks like Nvidia Corp.(NASDAQ:NVDA) and Amazon.com Inc.(NASDAQ:AMZN).

In 2022, NVDA fell from the high $20s to approximately $11, while the Amazon stock crashed 90% during the early 2000s dot-com bust.

Woo argued that if a similar yardstick is applied to these Wall Street titans, they should “never have a place in a wealth portfolio.”

When challenged on whether Bitcoin generates meaningful output or revenue like traditional companies, Woo defended the network as a “global ledger” for value transfer.

It's a global ledger.

Name one company that doesn't use a ledger. That invention unlocked public markets.

Pollution of a ledger destroys civilisations, read history.

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The Real ‘Store Of Value’

Stockman’s criticism comes at a time when Bitcoin’s volatility is a hot topic among investors.

The apex cryptocurrency has crashed 26% year-to-date, far worse than the Roundhill Magnificent Seven ETF(BATS:MAGS), which offers exposure to the "Magnificent Seven" stocks.

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Gold, on the other hand, has rallied 20%, behaving more like a reliable store of value asset.

Asset YTD Gains +/- Bitcoin -26.24% Roundhill Magnificent Seven ETF -5.53% Spot Gold +20.45%

Photo: Memory Stockphoto / Shutterstock

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