⸺ Obituary · July 20, 2021 ⸺
“Billionaire Investor Says Bitcoin Is Headed For $0, Which Is Very Far From The Moon”
— Gizmodo, Hamish Douglass
“I predict all these forms of cryptocurrencies that are not backed by central banks or backed by assets will ultimately go to zero. I can’t tell you when it will happen, but it’s inevitable that it will go to zero.”
Price at death
$29,801
Today
$73,594
Resurrection
×2.5
On 2021-07-20, Hamish Douglass (Chairman/Chief Investment Officer, Magellan Financial Group) declared Bitcoin dead via Gizmodo. Bitcoin was trading at ~$29,801 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on July 20, 2021, when one Bitcoin traded for approximately $29,801. Since then, Bitcoin has appreciated by 2.5× relative to the price on the day Gizmodo pronounced it finished.