⸺ Obituary · October 16, 2017 ⸺
“Nobel-Winning Economist Shiller Calls Bitcoin A Fad”
— CNBC, Robert Shiller
“Bitcoin is a fad, just like bimetallism before it.”
Price at death
$5,754
Today
$73,545
Resurrection
×12.8
On 2017-10-16, Robert Shiller (Nobel Prize Winning Economist) declared Bitcoin dead via CNBC. Bitcoin was trading at ~$5,754 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on October 16, 2017, when one Bitcoin traded for approximately $5,754. Since then, Bitcoin has appreciated by 12.8× relative to the price on the day CNBC pronounced it finished.