End of Bitcoin: myth or a real scenario
As of March 2026, Bitcoin ranks 14th among the largest assets in the world, slightly behind the shares of the technology giant Tesla. Despite discussions that the end of Bitcoin may one day come, its capitalization exceeds $1.4 trillion, and at its peak in 2025, it reached almost $2.5 trillion.
Just a few years ago, experts were predicting the end of Bitcoin, and after each market crash, many claimed the asset had "died." Could the end of Bitcoin really happen, and under what conditions would it be realistic?
Quantum threats — a harbinger of the end of Bitcoin?
Debates about whether quantum computers could break the Bitcoin network have been ongoing for several years. Concerns about the end of Bitcoin are based on the idea that Shor's algorithm, used in Bitcoin's protocol, could be broken by quantum computers in the foreseeable future.
For example, scientists from the University of Calgary believe this could happen within five years. However, skeptics consider the quantum threat in the near future unlikely. According to several experts, quantum computers may not appear for another 20–40 years, during which the end of Bitcoin is unlikely.
Moreover, in order to prevent the possible end of Bitcoin in the future, developers are already discussing the possibility of transitioning the Bitcoin blockchain to quantum-resistant algorithms. For example, BIP-360 (a Bitcoin Improvement Proposal) introduces a new output format for Bitcoin transactions called Pay-to-Merkle-Root (P2MR) (a transaction output format with conditions encrypted in a tree-based hash structure).
This format is intended to eliminate the vulnerability of Taproot addresses (P2TR) (Bitcoin addresses using a technology with aggregated signatures and hidden scripts), which, if quantum computing advances, could bring the end of Bitcoin closer.
However, current solutions that could prevent the end of Bitcoin due to quantum threats are still far from ideal. For example, BIP-360 (a Bitcoin Improvement Proposal) will not eliminate the protocol's vulnerability to attacks during periods when transactions are broadcast to the network. Another solution — the use of quantum-resistant signatures — would increase the size of signatures dozens of times, which could significantly reduce blockchain performance.
According to experts, if the threat of quantum computing becomes real, developers will have to modernize the protocol to prevent the end of Bitcoin. For the leading cryptocurrency to transition into the post-quantum era (resistant to quantum computers), it may take about 7 more years.
End of Bitcoin due to liquidity outflows and market liquidations
Some skeptics still consider the first cryptocurrency an "unbacked pyramid" and predict the end of Bitcoin, believing that it will collapse to zero. Among well-known Bitcoin skeptics are Microsoft head Bill Gates and the world-famous investor Warren Buffett.
It should be noted that the end of Bitcoin has seemed close many times, and its price has already fallen by 90% or even more. For example, in 2011, during the first large-scale hack of the infamous Mt. Gox exchange, the price of Bitcoin nearly went to zero, crashing from $32 to 1 cent.
In 2018, after the burst of the ICO (initial coin offering on a blockchain) bubble, Bitcoin lost 84% of its value, falling from $19,700 to $3,200. However, Bitcoin not only survived numerous crashes but also repeatedly reached new highs.
The end of Bitcoin would only be possible if the were mass investor capitulation, which could trigger a "death spiral"*. In this context, mass capitulation would include:
- Outflows from Bitcoin funds;
- A cascade of liquidations in derivatives markets.
- Mass sales of Bitcoin by large holders, such as Strategy, followed by smaller investors.
* A "Death spiral" is a self-accelerating process of asset price decline in which each new drop triggers additional selling and liquidations, pushing the price down even further. This cycle reinforces itself, forming a downward "spiraling" movement from which the asset struggles to recover without an inflow of new buyers or strong external demand.
However, even if the price of Bitcoin were to drop to zero, the market could theoretically "reset," so even such a dramatic scenario would not necessarily mean the end of Bitcoin. A crash alone does not guarantee the complete disappearance of Bitcoin, which has already achieved enormous success in financial markets and has significant historical value.
End of Bitcoin due to blockchain shutdown or hacking
In theory, vulnerabilities could be discovered in the network of the first cryptocurrency, leading to its shutdown and, consequently, the end of Bitcoin. According to research from 2024, one of the real threats to Bitcoin is the Bijack attack (a network-hacking method that involves intercepting and redirecting internet traffic).
With such an attack, it would theoretically be possible to isolate Bitcoin nodes from each other, disrupt network traffic routing, and inject malicious data into the network, which, in the worst case, could accelerate the end of Bitcoin. Analysts estimate that more than a quarter of Bitcoin nodes may be vulnerable to this attack. The possibility of a 51% attack remains relevant, though unlikely given its extremely high cost.
On the other hand, even if a successful attack on the Bitcoin network significantly crashes the price, it would not necessarily mean the end of Bitcoin. Such incidents can be "rolled back," for example, through a hard fork (a network split). Something similar happened in 2016 with the Ethereum blockchain, which, after a successful attack, split into two parallel networks. Developers rolled the network back to the state it had before the attack occurred, and the blockchain continued to operate independently of the original Ethereum, which, after the split, was renamed Ethereum Classic.
End of Bitcoin due to regulations and bans
Many countries have attempted to ban Bitcoin. In Algeria, Egypt, and Morocco, Bitcoin is still illegal, and in China, any cryptocurrency-related operations are banned. In many other countries, including the United States and Canada, the legal status of Bitcoin has not yet been fully determined — legislation is still being developed.
However, even if Bitcoin were banned worldwide and industrial mining farms were shut down, the end of Bitcoin would not occur, and its price would hardly fall to zero. This is at least because the Bitcoin network would continue to exist physically, and users would continue exchanging cryptocurrency, albeit not on the same scale.
An analogy can be made with alcohol, which at different times was completely banned in some countries. However, no matter how hard authorities tried, no one has ever managed to eliminate it 100%, so a complete end of Bitcoin due to bans also appears unlikely. While bans may partially work, they also tend to stimulate the development of shadow markets.
Will the end of Bitcoin not happen?
Back in 2018, researchers estimated the probability of the end of Bitcoin at only 0% to 1.3%, based on its historical returns. Experts believe the end of Bitcoin would only occur if it were physically erased from existence, which would require completely destroying all copies of its blockchain and source code.
Given that companies and large investors have invested hundreds of billions of dollars in cryptocurrency, it is unlikely that Bitcoin will lose all its value or fail. However, such a scenario cannot be completely ruled out, although something extraordinary would have to happen.