⸺ Obituary · December 17, 2014 ⸺
“Bitcoin Is (Nearly) All Dead”
— Acton, Joe Carter
“Right now, Bitcoin is only mostly dead. As an investment, it was the worst of 2014. . . . The problem, though, is that Bitcoin will likely not survive to get to that level of innovation. Will Bitcoin enthusiasts support it after they realize it has ceased to be useful as a currency and is a terrible investment? Not likely. At some point they are going to realize that they are subsidizing Bitcoin for theoretical and emotional reasons so that it can be exploited by regulation-seeking venture capitalists. When that happens Bitcoin will shift from being mostly dead to being all dead.”
Price at death
$319
Today
$73,594
Resurrection
×231
On 2014-12-17, Joe Carter (Senior Editor, Acton Institute) declared Bitcoin dead via Acton. Bitcoin was trading at ~$319 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 17, 2014, when one Bitcoin traded for approximately $319. Since then, Bitcoin has appreciated by 231× relative to the price on the day Acton pronounced it finished.