⸺ Obituary · March 5, 2018 ⸺
“A Decade From Now, Bitcoin Is More Likely To Be $100 Than $100,000, Harvard Economist Says”
— CNBC, Kenneth Rogoff
“I think bitcoin will be worth a tiny fraction of what it is now if we’re headed out 10 years from now ... I would see $100 as being a lot more likely than $100,000 ten years from now. Basically, if you take away the possibility of money laundering and tax evasion, its actual uses as a transaction vehicle are very small.”
Price at death
$11,573
Today
$73,565
Resurrection
×6.4
On 2018-03-05, Kenneth Rogoff (Former Chief Economist of the IMF) declared Bitcoin dead via CNBC. Bitcoin was trading at ~$11,573 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on March 5, 2018, when one Bitcoin traded for approximately $11,573. Since then, Bitcoin has appreciated by 6.4× relative to the price on the day CNBC pronounced it finished.