⸺ Obituary · February 8, 2021 ⸺
“Bitcoin Too Volatile to be Medium of Exchange, Goldman Sachs Says”
Sharmin Mossavar-Rahmani
“Something with a long-term volatility of 80% can't be considered a medium of exchange. Just because everybody piles into an idea and talks it up doesn't mean it's a store of value.”
Price at death
$46,436
Today
$61,577
Resurrection
×1.3
On 2021-02-08, Sharmin Mossavar-Rahmani (Head of Consumer and Investment Management, Goldman Sachs) declared Bitcoin dead via Newsweek. Bitcoin was trading at ~$46,436 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on February 8, 2021, when one Bitcoin traded for approximately $46,436. Since then, Bitcoin has appreciated by 33% relative to the price on the day Newsweek pronounced it finished.