⸺ Obituary · January 3, 2017 ⸺
“Bitcoin Passes $1,000 But Only Number That Matters Is Zero”
— Financial Times
“As a phenomenon bitcoin has all the attributes of a pyramid scheme, requiring a constant influx of converts to push up the price, based on the promise of its use by future converts. So the ultimate value for bitcoin will be the same as all pyramid schemes: zero.”
Price at death
$1,031
Today
$73,495
Resurrection
×71.3
On 2017-01-03, Financial Times declared Bitcoin dead. Bitcoin was trading at ~$1,031 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on January 3, 2017, when one Bitcoin traded for approximately $1,031. Since then, Bitcoin has appreciated by 71.3× relative to the price on the day Financial Times pronounced it finished.