⸺ Obituary · December 21, 2017 ⸺
“Bitcoin Heading To $0.00”
— RT, Peter Schiff
“These currencies are going to trade to zero or pretty close to it when the bubble pops. Right now, the only reason why people are buying bitcoin is because the price is going up. When it turns around, they are not going to sell it for the same reason. There is no value in bitcoin, you can’t use it as money. It’s too slow, too expensive and too vulnerable.”
Price at death
$15,561
Today
$73,565
Resurrection
×4.7
On 2017-12-21, Peter Schiff (Stock Broker / Economist) declared Bitcoin dead via RT. Bitcoin was trading at ~$15,561 at the time. The call joins the growing canon of premature obituaries.
The declaration was catalogued on December 21, 2017, when one Bitcoin traded for approximately $15,561. Since then, Bitcoin has appreciated by 4.7× relative to the price on the day RT pronounced it finished.