⸺ Obituary · February 10, 2021 ⸺
“The Fundamental Value Of Bitcoin Is Zero”
Nouriel Roubini
Photo: Fronteiras do Pensamento (CC BY-SA 2.0), via Wikimedia Commons
“Since the fundamental value of bitcoin is zero and would be negative if a proper carbon tax was applied to its massive polluting energy-hogging production, I predict that the current bubble will eventually end in another bust... Risky, volatile bitcoin doesn’t belong in the portfolios of serious institutional investors.”
Price at death
$44,856
Today
$61,577
Resurrection
×1.4
On 2021-02-10, Nouriel Roubini (Economist and Professor, NYU) declared Bitcoin dead via Insider. Bitcoin was trading at ~$44,856 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on February 10, 2021, when one Bitcoin traded for approximately $44,856. Since then, Bitcoin has appreciated by 37% relative to the price on the day Insider pronounced it finished.
