⸺ Obituary · February 22, 2024 ⸺
“ETF Approval For Bitcoin – The Naked Emperor’S New Clothes”
— ECB, Ulrich Bindseil
“For disciples, the formal approval confirms that Bitcoin investments are safe and the preceding rally is proof of an unstoppable triumph. We disagree with both claims and reiterate that the fair value of Bitcoin is still zero.”
Price at death
$51,303
Today
$73,484
Resurrection
×1.4
On 2024-02-22, Ulrich Bindseil (Director General of Market Infrastructure and Payments, European Central Bank) declared Bitcoin dead via ECB. Bitcoin was trading at ~$51,303 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on February 22, 2024, when one Bitcoin traded for approximately $51,303. Since then, Bitcoin has appreciated by 43% relative to the price on the day ECB pronounced it finished.