⸺ Obituary · November 6, 2013 ⸺
“Bitcoin Is A Joke”
— Business Insider, Joe Weisenthal
“But make no mistake, Bitcoin is not the currency of the future. It has no intrinsic value. . . . Bitcoin? Nada. There’s nothing keeping it being a thing. . . . Again, Bitcoin might go up a lot more before it ultimately ends. That’s the nature of bubbles. The dotcom bubble crashed a bunch of times on its way up. Then one day it ended. The same will happen with this.”
Price at death
$254
Today
$73,594
Resurrection
×290
On 2013-11-06, Joe Weisenthal (Executive Editor of News, Bloomberg Digital) declared Bitcoin dead via Business Insider. Bitcoin was trading at ~$254 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on November 6, 2013, when one Bitcoin traded for approximately $254. Since then, Bitcoin has appreciated by 290× relative to the price on the day Business Insider pronounced it finished.