⸺ Obituary · October 11, 2014 ⸺
“3 Reasons Bitcoin Is Doomed To Fail”
Jeremy Bowman
“While the technology behind the cryptocurrency may represent a safer method of buying and selling over the Internet, the asset will never take hold as a currency due to its limited supply and speculator manipulation. The technology used to encrypt Bitcoin would be better applied to the current monetary system, rather than through the invention of an entirely new currency. Bitcoin is simply economic Esperanto. It's a solution without a problem. The currency in use works fine.”
Price at death
$359
Today
$61,577
Resurrection
×171
On 2014-10-11, Jeremy Bowman (Writer, The Motley Fool) declared Bitcoin dead via Fool.com. Bitcoin was trading at ~$359 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on October 11, 2014, when one Bitcoin traded for approximately $359. Since then, Bitcoin has appreciated by 171× relative to the price on the day Fool.com pronounced it finished.
