⸺ Obituary · May 5, 2019 ⸺
“Warren Buffett Says Bitcoin Is A ‘Gambling Device’”
— CNBC, Warren Buffett
““It’s a gambling device… there’s been a lot of frauds connected with it. There’s been disappearances, so there’s a lot lost on it. Bitcoin hasn’t produced anything,” Buffett told a group of reporters ahead of Berkshire Hathaway’s annual meeting at the CHI Health Center in Omaha, Nebraska. “It doesn’t do anything. It just sits there. It’s like a seashell or something, and that is not an investment to me,” he added.”
Price at death
$5,824
Today
$73,594
Resurrection
×12.6
On 2019-05-05, Warren Buffett (CEO, Berkshire Hathaway) declared Bitcoin dead via CNBC. Bitcoin was trading at ~$5,824 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on May 5, 2019, when one Bitcoin traded for approximately $5,824. Since then, Bitcoin has appreciated by 12.6× relative to the price on the day CNBC pronounced it finished.