⸺ Obituary · November 30, 2018 ⸺
“Bitcoin Becomes A Story Of Boom And Bust”
— Bloomberg
“The world’s premier cryptocurrency has bounced back from selloffs before but this time may be different. Regulators are cracking down and investors’ fear of losing everything is overtaking their fear of missing out. The route is a setback for people who hoped digital cash would challenge Visa and Mastercard. It vindicates Warren Buffet and others who have compared electronic currencies to a Ponzi scheme.”
Price at death
$3,992
Today
$73,594
Resurrection
×18.4
On 2018-11-30, Bloomberg declared Bitcoin dead. Bitcoin was trading at ~$3,992 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on November 30, 2018, when one Bitcoin traded for approximately $3,992. Since then, Bitcoin has appreciated by 18.4× relative to the price on the day Bloomberg pronounced it finished.