⸺ Obituary · August 17, 2017 ⸺
“Bitcoin Bear Peter Schiff Doubles Down: Even At $4,000 It's Still A Bubble”
— CoinDesk, Peter Schiff
“There’s certainly a lot of bullishness about bitcoin and cryptocurrency, and that’s the case with bubbles in general. The psychology of bubbles fuels it. You just become more convinced that it’s going to work. And the higher the price goes, the more convinced you become that you’re right. But it’s not going up because it’s going to work. It’s going up because of speculation….”
Price at death
$4,316
Today
$73,525
Resurrection
×17.0
On 2017-08-17, Peter Schiff (Stock Broker / Economist) declared Bitcoin dead via CoinDesk. Bitcoin was trading at ~$4,316 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on August 17, 2017, when one Bitcoin traded for approximately $4,316. Since then, Bitcoin has appreciated by 17.0× relative to the price on the day CoinDesk pronounced it finished.