--- title: "Bitcoin Just Had Its Worst Month in Crypto’s Entire History" description: "Blockchain woes persist. Bitcoin lost 38 percent of its value in June alone, making this past month the worst in crypto's 12 year history, CNBC reports." date: "2022-07-01" modified: "2022-07-01" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/the-byte/bitcoin-worst-month-in-history" categories: - "Bitcoin" - "Blockchain" - "Cryptocurrency" - "Future Society" tags: - "bitcoin" - "crypto" - "investing" - "the digest" --- # Bitcoin Just Had Its Worst Month in Crypto’s Entire History ![Blockchain woes persist. Bitcoin lost 38 percent of its value in June alone, making this past month the worst in crypto's 12 year history, CNBC reports.]() *\Image: Futurism\* ## Free Fallin' The blockchain blues continue. Bitcoin lost 38 percent of its value in June alone, making this past month the worst in crypto's 12 year history, [*CNBC* reports](). That's not all the bad news. Ethereum rang in at an astonishing 47 percent loss, and industry leaders crumbled across the board — major crypto hedge fund Three Arrows Capital has [effectively imploded]() after failing to pay a $670 billion loan, the [digital bank run persists](), and [widespread industry layoffs]() continue to plague the struggling market. ## Culling the Weak Still, the [most faithful]() of crypto enthusiasts refuse to be shaken, and some even think that these record lows are the perfect time to vulture fallen coins. "If your timeframe is a week, or a month, or even a quarter, I think there’s still significant volatility," said Matt Hougan, chief investment officer at Bitwise Asset Management, to *CNBC*. "If you have a time horizon measured in years, then yes, this is a great opportunity to think about entering the market." Billionaire [Sam Bankman-Fried](), founder of exchange platform FTX, seems to be taking this approach. A *CNBC* source alleged that Bankman-Fried is looking to acquire crypto lender BlockFi for a low $25 million — a number that, the outlet reports, is roughly 99 percent below BlockFi's last private valuation. Other crypto CEOs, however, are [coping differently](). Collectively, these are some serious losses. Of course, there's a chance that the true believers could be right that the market will rise like a phoenix from the ashes — but in the short term, "[invest in something you don't understand]()" may not have been the best advice, after all. **READ MORE:** [*Bitcoin just had its worst month on record*]() \[*NYT*\] **More on the bitcoin crisis:** [*Crypto Ceo Warns That Exchanges Are "Secretly Already Insolvent"*]() ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()