⸺ Obituary · May 21, 2016 ⸺
“Bitcoin May Be Failing, But The Technology Behind It Will Live On”
— Forbes, Greg Satell
“The reasons for Bitcoin’s failure are many, including poor governance, a lack of technological infrastructure and infighting within its community. Besides, as I noted in my previous article, the fact that sovereign governments have the power to tax in their own currencies always made a Bitcoin takeover unlikely.”
Price at death
$443
Today
$73,532
Resurrection
×166
On 2016-05-21, Greg Satell (Entrepreneur) declared Bitcoin dead via Forbes. Bitcoin was trading at ~$443 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on May 21, 2016, when one Bitcoin traded for approximately $443. Since then, Bitcoin has appreciated by 166× relative to the price on the day Forbes pronounced it finished.