⸺ Obituary · September 5, 2024 ⸺
“The Case Against Bitcoin”
— MDF LAW, Marc Fitapelli
“Individuals who invest in Bitcoin blindly place their trust in an anonymous individual they do not know and a technology they do not understand. The US dollar says, “In God we trust,” because Americans trust only God blindly. Every participant in America’s brand of free market capitalism is untrusted and subject to public checks and balances. Everyone in our free-market democracy must publicly answer to government regulators, except Satoshi Nakamoto. Bitcoin has no utility and is merely spreadsheet money. Bitcoin is not a currency and still cannot be used to buy goods and services. It is a poor investment because it trades in a manipulated market. Bitcoin will eventually go to zero.”
Price at death
$56,160
Today
$73,594
Resurrection
×1.3
On 2024-09-05, Marc Fitapelli (Attorney) declared Bitcoin dead via MDF LAW. Bitcoin was trading at ~$56,160 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on September 5, 2024, when one Bitcoin traded for approximately $56,160. Since then, Bitcoin has appreciated by 31% relative to the price on the day MDF LAW pronounced it finished.