⸺ Obituary · January 7, 2015 ⸺
“Bitcoin’s Upcoming Capital Crisis”
— Financial Times
“We’ll sign off with the simple point that unless a massive amount of new capital is transferred into Bitcoin market sharpish — which is not impossible, since there are still a number of deep pocketed believers out there — it’s hard to imagine the asset class going any other way but south. Furthermore, it’s unlikely at this stage that either price rigging, mining cartels or lower energy costs will be able to reverse that trend.”
Price at death
$295
Today
$73,594
Resurrection
×250
On 2015-01-07, Financial Times declared Bitcoin dead. Bitcoin was trading at ~$295 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on January 7, 2015, when one Bitcoin traded for approximately $295. Since then, Bitcoin has appreciated by 250× relative to the price on the day Financial Times pronounced it finished.