⸺ Obituary · September 19, 2014 ⸺
“Cult Markets: When The Bubble Bursts”
— Financial Times
“We’re going to stick our neck out at this stage and call this the end of Bitcoin. . . . We’re sure we may still see a few deep pocketed VCs or “believers” throw more money at defending the dream, but chances are we’ve now gone through the exponential break point. Time and money would probably be better spent trying to pump up Bitcoin V.2.”
Price at death
$392
Today
$73,594
Resurrection
×188
On 2014-09-19, Financial Times declared Bitcoin dead. Bitcoin was trading at ~$392 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on September 19, 2014, when one Bitcoin traded for approximately $392. Since then, Bitcoin has appreciated by 188× relative to the price on the day Financial Times pronounced it finished.