⸺ Obituary · April 2, 2019 ⸺
“Nobody Learned Their Lesson After The Last Crash”
— Gizmodo, Matt Novak
“To be clear, Bitcoin is absolutely worthless by any real measure. It’s fake money that’s about as practical to use in the real world as Monopoly bills. Bitcoin is backed by nothing and requires tremendous amounts of energy to mine using computers. As it becomes more difficult to mine, it saps more and more energy, causing millions of tons of carbon dioxide to be pumped into the atmosphere and accelerating climate change. Bitcoin is little more than a speculator’s death cult at this point.”
Price at death
$4,909
Today
$73,525
Resurrection
×15.0
On 2019-04-02, Matt Novak (Senior Writer, Gizmodo) declared Bitcoin dead via Gizmodo. Bitcoin was trading at ~$4,909 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on April 2, 2019, when one Bitcoin traded for approximately $4,909. Since then, Bitcoin has appreciated by 15.0× relative to the price on the day Gizmodo pronounced it finished.