⸺ Obituary · April 5, 2013 ⸺
“Why Bitcoin Is Doomed To Fail”
— Chron, Alex Planes
“The very reasons why Bitcoin has taken off today will be major reasons why its value is likely to collapse tomorrow. . . . [dramatic price instability] will cause the ultimate failure of the Bitcoin experiment. . . . Bitcoin will fail because a small number of hoarders control most of the supply.”
Price at death
$142
Today
$73,565
Resurrection
×517
On 2013-04-05, Alex Planes (Writer, The Motley Fool) declared Bitcoin dead via Chron. Bitcoin was trading at ~$142 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on April 5, 2013, when one Bitcoin traded for approximately $142. Since then, Bitcoin has appreciated by 517× relative to the price on the day Chron pronounced it finished.