⸺ Obituary · October 13, 2017 ⸺
“Jamie Dimon Says If You're Stupid Enough To Buy Bitcoin, You'll Pay The Price One Day”
— CNBC, Jamie Dimon
“I could care less about bitcoin….I don’t personally understand the value of something that has no actual value. You all can do whatever you want and I don’t care…..If you’re stupid enough to buy it, you’ll pay the price for it one day. I’ve also told people that it can trade at $100,000 before it trades to zero. The only value of bitcoin is what the other guy’ll pay for it. Who cares about bitcoin? The world economy’s so big, JPMorgan alone, $6 trillion, we move all this money, and bitcoin in total, all these currencies, $50 billion dollars, maybe a billion dollars trades a day.”
Price at death
$5,640
Today
$73,594
Resurrection
×13.0
On 2017-10-13, Jamie Dimon (CEO, JP Morgan Chase) declared Bitcoin dead via CNBC. Bitcoin was trading at ~$5,640 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on October 13, 2017, when one Bitcoin traded for approximately $5,640. Since then, Bitcoin has appreciated by 13.0× relative to the price on the day CNBC pronounced it finished.