⸺ Obituary · December 17, 2013 ⸺
“Bitcoin Will Crash To $10 By Mid-2014”
— Business Insider, Mark T. Williams
“Bitcoin is not a legitimate currency but simply a risky virtual commodity bet. . . . Bitcoin lacks the essential attributes that are needed to support a widely recognized transactional currency. If Bitcoin was allowed to proliferate as a currency it would produce greater economic uncertainty, reduced trade and lower individual standard of living.”
Price at death
$684
Today
$73,594
Resurrection
×108
On 2013-12-17, Mark T. Williams (Professor, Boston University) declared Bitcoin dead via Business Insider. Bitcoin was trading at ~$684 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 17, 2013, when one Bitcoin traded for approximately $684. Since then, Bitcoin has appreciated by 108× relative to the price on the day Business Insider pronounced it finished.