⸺ Obituary · April 24, 2018 ⸺
“Bitcoin Is The Greatest Scam In History”
— Recode, Bill Harris
“In my opinion, it’s a colossal pump-and-dump scheme, the likes of which the world has never seen. In a pump-and-dump game, promoters “pump” up the price of a security creating a speculative frenzy, then “dump” some of their holdings at artificially high prices. And some cryptocurrencies are pure frauds.”
Price at death
$9,652
Today
$73,594
Resurrection
×7.6
On 2018-04-24, Bill Harris (Former CEO, PayPal) declared Bitcoin dead via Recode. Bitcoin was trading at ~$9,652 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on April 24, 2018, when one Bitcoin traded for approximately $9,652. Since then, Bitcoin has appreciated by 7.6× relative to the price on the day Recode pronounced it finished.