⸺ Obituary · January 3, 2018 ⸺
“The Bitcoin Bubble Will Likely Burst, And Here’s Why”
— Boston Globe, Jeffrey D. Sachs
“It is hard to see bitcoin’s price surge as anything other than a bubble that will ultimately collapse. Bitcoin’s ostensible social function as an anonymous, nongovernmental means of payment carries big risks of its demise. And while blockchain, the platform that records bitcoin transactions, may well have staying power, there is no reason to believe it needs to rely on bitcoin for its success.”
Price at death
$15,135
Today
$73,565
Resurrection
×4.9
On 2018-01-03, Jeffrey D. Sachs (Economist) declared Bitcoin dead via Boston Globe. Bitcoin was trading at ~$15,135 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on January 3, 2018, when one Bitcoin traded for approximately $15,135. Since then, Bitcoin has appreciated by 4.9× relative to the price on the day Boston Globe pronounced it finished.