⸺ Obituary · December 7, 2016 ⸺
“Why This Well-Funded Startup Just Gave Up On Bitcoin”
— Fortune
“Circle is bailing on bitcoin altogether. The company announced on Wednesday it is focusing on other things, and that its bitcoin customers can cash out or else transfer their accounts to another company, Coinbase, if they wish to keep buying and selling the cryptocurrency. The move is not entirely surprising as the hype around bitcoin subsided long ago, and the digital currency remains a niche product for speculators or for clandestine online transactions.”
Price at death
$764
Today
$73,545
Resurrection
×96.3
On 2016-12-07, Fortune declared Bitcoin dead. Bitcoin was trading at ~$764 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 7, 2016, when one Bitcoin traded for approximately $764. Since then, Bitcoin has appreciated by 96.3× relative to the price on the day Fortune pronounced it finished.