⸺ Obituary · April 13, 2013 ⸺
“Paul Krugman: Bitcoins Would Have Been Considered Foolish By Adam Smith”
Paul Krugman
Photo: The White House (public domain), via Wikimedia Commons
“Now here we are in a world of high information technology — and people think it’s smart, nay cutting-edge, to create a sort of virtual currency whose creation requires wasting real resources in a way Adam Smith considered foolish and outmoded in 1776.”
Price at death
$93
Today
$61,577
Resurrection
×662
On 2013-04-13, Paul Krugman (Economist) declared Bitcoin dead via Huffpost. Bitcoin was trading at ~$93 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on April 13, 2013, when one Bitcoin traded for approximately $93. Since then, Bitcoin has appreciated by 662× relative to the price on the day Huffpost pronounced it finished.
