⸺ Obituary · November 16, 2017 ⸺
“Why Bitcoin Will Go The Way Of The Tulips”
— Financial Review, Elmer Funke Kupper
“We can predict the collapse of the value of Bitcoin, even when it may rise for a little while longer. The introduction of exchange-traded futures may signal the start of this process. Give it a year, maybe less. Bitcoin will become a case study for economics students, teaching them about irrational crowd behaviour.”
Price at death
$7,844
Today
$73,562
Resurrection
×9.4
On 2017-11-16, Elmer Funke Kupper (Director, Suncorp Group) declared Bitcoin dead via Financial Review. Bitcoin was trading at ~$7,844 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on November 16, 2017, when one Bitcoin traded for approximately $7,844. Since then, Bitcoin has appreciated by 9.4× relative to the price on the day Financial Review pronounced it finished.