Bitcoin Crashes Again: Former IMF Economist Mark Dow Says 'No Grifter Left Behind'

Mark Dow, a seasoned macro trader and former economist at the International Monetary Fund, has once again stepped into the spotlight to comment on Bitcoin's latest price collapse. Known for his vocal skepticism toward the crypto market, Dow wasted no time pointing fingers at the promotional culture he believes helped inflate the asset's value.

Dow specifically called out American entrepreneur and self-proclaimed sales guru Grant Cardone, suggesting that Cardone's decision to publicly promote Bitcoin signaled the market's peak. "This indeed was the top. No grifter left behind. Remember the people who made their bank trying to shill it to you," Dow wrote, delivering a pointed message to retail investors who may have entered the market based on celebrity endorsements.

This is far from Dow's first rodeo when it comes to criticizing crypto. Earlier in 2026, he openly declared his desire to see the entire digital asset industry collapse. "I want bitcoin to go to zero," he stated bluntly, arguing that the cryptocurrency was artificially propped up through fear-based monetary narratives and unrealistic promises of generational wealth. In his view, Bitcoin holds no intrinsic value and has been weaponized by marketers seeking personal profit.

Dow had also flagged Cardone's involvement months prior. "You know how you know Bitcoin is over? Grant Cardone is pitching it in his ads," he remarked late last year. Cardone, widely recognized for his "10X" motivational brand and real estate investment ventures targeting retail participants, has become something of a symbol for the kind of mainstream crypto promotion that Dow finds troubling.

Dow's credibility on Bitcoin matters stems from a well-documented trade. Back in December 2017, as BTC was surging toward what would become a then-record high, Dow publicly announced a short position against the asset. His timing proved prescient — he closed the trade near the market bottom around $3,200 roughly a year later, cementing his reputation as one of the few traditional finance voices to successfully navigate that cycle.

However, not everyone in the crypto community is ready to hand Dow another trophy. Several prominent voices have dug up old posts showing that the economist has been forecasting Bitcoin's permanent demise for years, so far without lasting success. In November 2019, for example, Dow confidently predicted that Bitcoin would experience a slow, grinding death — a call that clearly did not play out as he anticipated.

Critics argue that repeatedly predicting the end of an asset over multiple market cycles undermines the credibility of any single warning, regardless of the analyst's past achievements. Bitcoin has survived numerous "death" proclamations across its history, and each recovery has emboldened long-term holders while frustrating skeptics.

Nevertheless, the current downturn has given Dow fresh ammunition. Whether this correction represents the definitive end of the Bitcoin era or simply another chapter in its volatile history remains to be seen. What is clear is that the debate between crypto believers and macro skeptics shows no signs of cooling down anytime soon.