Is Crypto 'Irrelevant'? Here's Who Says Bitcoin Replacing The Dollar Is 'Laughable'

Baird strategist Michael Antonelli called crypto “irrelevant,” joining high-profile skeptics like Peter Schiff, Michael Burry and Mike McGlone in publicly dismissing Bitcoin — comments that often appear near market bottoms. The piece notes Bitcoin trading around $76,344 and recalls it was about $109,000 during the 2025 conference (a ~30% decline). Analysts cited range from McGlone’s $10,000 downside under deflationary scenarios to Benjamin Cowen’s warning of a potential ~70% drop from a $126,000 peak. The article also highlights ongoing institutional interest (Michael Saylor, MicroStrategy accumulation and banks such as JPMorgan and Morgan Stanley building crypto infrastructure), suggesting that public bearish pronouncements could be contrarian signals with market-impact implications for Bitcoin and related equities/ETFs.