⸺ Obituary · November 12, 2015 ⸺
“UBS Chairman: Bitcoin Currency Will Fail, Has No Lender Of Last Resort”
— Finance Magnates, Axel Weber
“Private currencies will fail to take off because there is no lender of last resort- there will always be boom and bust.”
Price at death
$337
Today
$73,532
Resurrection
×218
On 2015-11-12, Axel Weber (Chairman, UBS) declared Bitcoin dead via Finance Magnates. Bitcoin was trading at ~$337 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on November 12, 2015, when one Bitcoin traded for approximately $337. Since then, Bitcoin has appreciated by 218× relative to the price on the day Finance Magnates pronounced it finished.