⸺ Obituary · September 4, 2020 ⸺
“Bitcoin Is Worthless In Long-Term”
— NEWSBTC, James Royal
“In contrast, bitcoin or other digital currencies are very likely worthless in the long term, and those are the kind of assets that investing legend Warren Buffet won’t touch. It’s these latter kinds of assets that have a greater chance to be in bubble territory because they don’t generate cash flow to support their valuations.”
Price at death
$10,293
Today
$73,594
Resurrection
×7.2
On 2020-09-04, James Royal (Reporter) declared Bitcoin dead via NEWSBTC. Bitcoin was trading at ~$10,293 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on September 4, 2020, when one Bitcoin traded for approximately $10,293. Since then, Bitcoin has appreciated by 7.2× relative to the price on the day NEWSBTC pronounced it finished.