Long-Term Bitcoin Bear David Stockman Calls BTC 'Rug Pull'
Analysis
Price Impact
MedDavid stockman, a known bitcoin critic, calling it a 'rug pull' can influence sentiment among retail investors who might be swayed by his long-term bearish stance. however, the market has seen similar criticisms in the past during bear cycles.
Trustworthiness
MedDavid stockman has a history of being bearish on bitcoin and has been wrong about its long-term trajectory before. while his opinion carries some weight due to his background, it's countered by established crypto analysts and investors like willy woo and lawrence lepard.
Price Direction
NeutralThe immediate price reaction might be slightly negative due to negative sentiment from a prominent critic. however, the counterarguments from willy woo and lawrence lepard, referencing historical stock volatility and long-term adoption, suggest that the price may not significantly deviate from its current trend based solely on this commentary.
Time Effect
ShortStockman's comments are recent news that could cause short-term fud (fear, uncertainty, doubt) or a minor dip in price. however, the long-term outlook will likely depend more on broader market trends and adoption rather than a single critic's opinion.
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Cover image via U.Today Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available. Add as a preferred source on Google News Former U.S. budget director David Stockman escalated his criticism of Bitcoin in a recent X post, describing the flagship cryptocurrency as a “rug pull” after its decline from $125,000 to the $60,000s in the last five months. The nearly 50% correction, argues President Reagan's former advisor, exposes what should be seen as a fundamental contradiction between the “store of value” narrative of Bitcoin and its actual price behavior during risk-off phases. Advertisement Well, bitcoiners, got to love that "store of value" performance. Price go down 48% from $125k to $65k in four months, but, hey, rug pulls make no never mind to Diamond Hands! Then again, a speculative asset is one thing; real money is a wholly different kettle of fish!! — David Stockman (@DA_Stockman) February 23, 2026 For Stockman, a longtime fiscal conservative and outspoken critic of central bank policy excess, the episode reinforces how post-2008 liquidity cycles have fueled speculative manias detached from real underlying cash flows. HOT Stories Bitcoin Breaks Below Critical $63,000 Support Crypto Market Review: Ethereum (ETH) Must Protect $1,885, Is XRP Close to Losing $1? Shiba Inu: Why Outlook Is Shifting Is Bitcoin "store of value" or "rug pull?" The “rug pull” label by Stockman there, while provocative, is not new in crypto discourse. Similar language has surfaced during prior bear markets, including the 2018 collapse and the 2022 deleveraging cycle, when drawdowns exceeded 70% before recoveries. Advertisement Of course, such harsh remarks drew responses from market participants, though the counterarguments do not directly challenge the arithmetic of the drop. On-chain analyst Willy Woo pointed to historical drawdowns in trillion-dollar equities, such as Nvidia, Apple, Amazon and Meta, each of which at some stage lost between 60% and 90% from peak to trough before recovering. Historical and Recent Drawdowns of Mega-Cap Tech Stocks, Source: Willy Woo If large-cap stocks can suffer deep declines and remain core components of long-term portfolios, volatility alone may not invalidate Bitcoin’s thesis, according to Woo. You Might Also Like Tue, 02/24/2026 - 06:12 Bitcoin Breaks Below Critical $63,000 Support By Alex Dovbnya Advertisement Another vocal proponent of BTC , investor Lawrence Lepard, took a more forward-looking position, arguing that the cryptocurrency remains in an adoption phase and could outperform gold over the next two years. So, for him, the current market environment is transitional rather than terminal. #Bitcoin #Bitcoin News