⸺ Obituary · December 31, 2018 ⸺
“No Investment Strategies Are Worse Than Cryptocurrencies”
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
$61,577
Resurrection
×16.5
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 16.5× relative to the price on the day CCN pronounced it finished.
