⸺ Obituary · February 24, 2020 ⸺
“Bitcoin Has No Value”
— CNBC, Warren Buffett
“Cryptocurrencies basically have no value and they don't produce anything. They don't reproduce, they can't mail you a check, they can't do anything, and what you hope is that somebody else comes along and pays you more money for them later on, but then that person's got the problem. In terms of value: zero.”
Price at death
$9,665
Today
$73,594
Resurrection
×7.6
On 2020-02-24, Warren Buffett (CEO, Berkshire Hathaway) declared Bitcoin dead via CNBC. Bitcoin was trading at ~$9,665 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on February 24, 2020, when one Bitcoin traded for approximately $9,665. Since then, Bitcoin has appreciated by 7.6× relative to the price on the day CNBC pronounced it finished.