⸺ Obituary · August 8, 2013 ⸺
“The SEC Shows Why Bitcoin Is Doomed”
— Bloomberg View, Timothy Lavin
“All of which is to say that doing anything legally with bitcoins — and especially converting them into fiat currencies — is going to get harder and more expensive as governments involve themselves. So hard and so expensive, I’d argue, that any advantages the crypto-currency may have over normal means of exchange, like credit cards, will soon disappear.”
Price at death
$95
Today
$73,554
Resurrection
×776
On 2013-08-08, Timothy Lavin (Economics Writer, Bloomberg) declared Bitcoin dead via Bloomberg View. Bitcoin was trading at ~$95 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on August 8, 2013, when one Bitcoin traded for approximately $95. Since then, Bitcoin has appreciated by 776× relative to the price on the day Bloomberg View pronounced it finished.