⸺ Obituary · December 31, 2018 ⸺
“No Investment Strategies Are Worse Than Cryptocurrencies”
— CCN, Robert R. Johnson
“The simple truth is that there are virtually no investment strategies that are worse ideas than cryptocurrencies. “Investing” in bitcoin and other cryptocurrencies is pure, unadulterated speculation. I put investing in parentheses because this is not investing, it is speculating. Cryptocurrencies are the “Tulipmania” of the 21st century.”
Price at death
$3,741
Today
$73,507
Resurrection
×19.7
On 2018-12-31, Robert R. Johnson (Professor) declared Bitcoin dead via CCN. Bitcoin was trading at ~$3,741 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 31, 2018, when one Bitcoin traded for approximately $3,741. Since then, Bitcoin has appreciated by 19.7× relative to the price on the day CCN pronounced it finished.