⸺ Obituary · July 4, 2018 ⸺
“Why Bitcoin May Soon Be Worth Nothing”
— New York Post, John Crudele
“I use the term “worth” cautiously because bitcoin is really worth nothing, since it’s backed by nothing or no one. It’s a confidence game that has value only because people are convincing other people that it’s worth something. Got it! Ponzi scheme. Confidence game. Fraud.”
Price at death
$6,585
Today
$73,594
Resurrection
×11.2
On 2018-07-04, John Crudele (Columnist) declared Bitcoin dead via NYPost. Bitcoin was trading at ~$6,585 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on July 4, 2018, when one Bitcoin traded for approximately $6,585. Since then, Bitcoin has appreciated by 11.2× relative to the price on the day New York Post pronounced it finished.