⸺ Obituary · August 30, 2021 ⸺
“Billionaire Investor John Paulson Calls Crypto A Worthless Bubble”
John Paulson
“And I would say that cryptocurrencies are a bubble. I would describe them as a limited supply of nothing. So to the extent there’s more demand than the limited supply, the price would go up. But to the extent the demand falls, then the price would go down. There’s no intrinsic value to any of the cryptocurrencies except that there’s a limited amount.”
Price at death
$46,997
Today
$61,577
Resurrection
×1.3
On 2021-08-30, John Paulson (Hedge Fund Manager) declared Bitcoin dead via CoinGape. Bitcoin was trading at ~$46,997 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on August 30, 2021, when one Bitcoin traded for approximately $46,997. Since then, Bitcoin has appreciated by 31% relative to the price on the day CoinGape pronounced it finished.