⸺ Obituary · January 17, 2018 ⸺
“Bitcoin Isn't The Future Of Money”
— Bloomberg, David Shipley
“Blockchain technology gives Bitcoin two crucial characteristics;— it can be exchanged peer-to-peer without the need for a trusted intermediary, and it lets transactions be anonymous. In both these ways, Bitcoin resembles physical cash. But whereas physical cash is the liability of a government, with a central bank controlling its value, Bitcoin is a liability of nobody. This is its fatal flaw as a currency. There’s nothing to stop its value from falling to zero.”
Price at death
$11,141
Today
$73,594
Resurrection
×6.6
On 2018-01-17, David Shipley (Journalist, Bloomberg) declared Bitcoin dead via Bloomberg. Bitcoin was trading at ~$11,141 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on January 17, 2018, when one Bitcoin traded for approximately $11,141. Since then, Bitcoin has appreciated by 6.6× relative to the price on the day Bloomberg pronounced it finished.